Finance & DevelopmentDevelopmentPRISA Group and Peachtree Hotel Group Open AC Hotel in Tampa

PRISA Group and Peachtree Hotel Group Open AC Hotel in Tampa

TAMPA BAY, Fla.—PRISA Group, a family-owned developer, builder, and owner of hospitality, resort, and entertainment projects in Puerto Rico and Florida, together with Peachtree Hotel Group and Argosy Real Estate Partners opened the newly constructed, 175-room AC Hotel by Marriott Tampa/Airport–Westshore.

“This marks the first of three Marriott-branded hotels we are opening in Florida, including an under-construction, dual-branded SpringHill Suites/Residence Inn in Orlando at the Mall of Millenia, and we remain bullish on the market,” PRISA president and CEO Federico Stubbe says. “We now own the newest, design-focused, lifestyle product on the market, a key driver for both business and leisure travelers who want something beyond the ‘typical’ hotel stay.”

The hotel is housed within MetWest International, a high-end, 32-acre, mixed-use development in Tampa’s Westshore Business District. The hotel is adjacent to International Plaza Mall, Bay Street, and Tampa International Airport, which currently is undergoing one of the largest airport expansions in the United States. The MetWest International mixed-use complex contains multiple restaurants and bars within steps of the hotel, as well as a variety of large corporate tenants. Nearby attractions include downtown Tampa, the Raymond James Stadium, and George M. Steinbrenner Field.

Designed in a European style, the hotel’s guestrooms feature plush bedding, with an integrated work desk and a luggage bench, signature closet and 47” television. Glass-enclosed showers in bathrooms include AC Hotel’s signature amenities from Gilchrist & Soames. Hotel public space is equipped with a communal table and reading section, signature lounge seating, and a multimedia area. Additional amenities include a market, two media salons, and a business/social events room. The hotel also houses a 900-plus square foot fitness center, pool and pool bar, complimentary WiFi throughout the property, and 2,300 square feet of meeting space as well as an outdoor, 25’ x 58’ digital art installation that projects colorful, abstract imagery on the side of the hotel. The hotel’s AC Lounge serves craft beers, specialty wines, and cocktails. The AC Kitchen offers European-inspired breakfast with croissants, egg tarts, Iberico prosciutto, and Nespresso coffee.

“These properties are indicative of what we seek in hotel assets: ground-up development opportunities in attractive markets with multiple demand generators and a lack of new supply,” Brent LeBlanc, Peachtree senior vice president, says. “Additionally, we continue to seek acquisition and third-party management candidates to round out our portfolio of select-, limited-, and extended-stay service hotels throughout the United States. While deals are growing harder to come by, there remain ample opportunities for savvy hoteliers in this phase of the cycle.”\

PRISA developed the hotel with Peachtree and Argosy acting as additional equity investors in the project. Marriott will be responsible for hotel operations. PRISA Group and Orlando-based Welbro Building Corporation conducted construction. The Miami-based offices of Popular Community Bank provided the debt financing.