MIAMI, Sept. 15, 2014 /PRNewswire/ -- Global alternative
asset manager The Carlyle Group today announced the acquisition of
two Florida Keys hotels in Islamorada – the Postcard Inn Beach Resort at
Holiday Isle and La Siesta Resort. The two hotels join the
Islamorada Resort and Pelican Cove Resort & Marina in Carlyle's
Islamorada hotel portfolio. The
four properties will form the newly created Islamorada Hotel
Company and be managed by Trust Hospitality. Equity for the
transactions comes from Carlyle Realty Partners VII, a $2.34 billion U.S. real estate fund.
![Trust Hospitality logo Trust Hospitality logo](http://photos.prnewswire.com/prnvar/20140915/146117)
Postcard Inn is a 151-room resort at Mile Marker 84 in
Islamorada. The oceanfront resort
is an iconic property featuring eclectic guestrooms, the largest
private beach in Islamorada,
watersports, two pools, ocean-side marina and a variety of food and
beverage options, including the World Famous Tiki Bar. La Siesta is
an all-suite beach hotel on six tropical acres on the Oceanside of
Islamorada at Mile Marker 80.2.
The hotel features cottages with full kitchens and complimentary
use of kayaks and bicycles.
The Postcard Inn will undergo renovations beginning with
upgrades to guest bathrooms, which are scheduled to begin by the
end of the year. Improvements to common areas, the marina, and food
and beverage options will begin in 2015. La Siesta's renovations
will start in late 2015 and will also include a refresh of the
guestrooms and common areas. In total, Carlyle plans approximately
$18 million in renovations to the
Postcard Inn and La Siesta.
"As a Miami-based hotel
management company, we are thrilled to further expand our portfolio
into the Florida Keys," said Patrick
Goddard, president & COO of Trust Hospitality. "We're
eager to bring a new level of service and style to the Postcard Inn
and La Siesta Resort while providing guests and locals a new and
vibrant way to experience Islamorada. No significant changes to staffing
levels are anticipated."
"These Islamorada properties are in high quality locations and
have significant upside potential following renovations and
management enhancements," said Thad
Paul, Managing Director at The Carlyle Group. "With the
planned changes, we're confident that guests and the residents of
Islamorada will continue to
embrace the properties and support tourism efforts on Islamorada."
Over the last year, The Carlyle Group's U.S. realty funds also
purchased the Pelican Cove Resort and Islamorada Resort and both
properties are currently undergoing major renovations. Pelican Cove
Resort & Marina was acquired in September 2013 and began renovations on the
63-room property earlier this year. Major guestroom and common area
renovations are scheduled to be completed in November 2014.
Islamorada Resort, previously a Hampton Inn, was acquired by
Carlyle in February 2014 and is
currently undergoing interior and exterior renovations. The resort
will re-launch as a boutique upscale hotel at the end of 2014 under
the new name of Amara Cay Resort.
For more information on Trust Hospitality, visit
www.TrustHospitality.com or the Trust Hospitality Facebook or
Twitter pages. For more information on The Carlyle Hotel Group,
please visit www.Carlyle.com.
About Trust Hospitality
Trust Hospitality is an
award-winning premier hotel owner and operator. With more than 25
years of experience, Trust has more than 30 projects in operation
or development worldwide. Headquartered in Miami, Florida with offices in New York, Panama, Salvador and Lisbon. For more information, please visit
www.TrustHospitality.com, www.Facebook.com/TrustHospitality or
www.Twitter.com/TrustHotels.
About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global alternative asset
manager with $203 billion of assets
under management across 126 funds and 139 fund of funds vehicles as
of June 30, 2014. Carlyle's purpose
is to invest wisely and create value on behalf of its investors,
many of whom are public pensions. Carlyle invests across four
segments – Corporate Private Equity, Real Assets, Global Market
Strategies and Solutions – in Africa, Asia,
Australia, Europe, the Middle
East, North America and
South America. Carlyle has
expertise in various industries, including: aerospace, defense
& government services, consumer & retail, energy, financial
services, healthcare, industrial, real estate, technology &
business services, telecommunications & media and
transportation. The Carlyle Group employs more than 1,600 people in
40 offices across six continents.
Web: www.carlyle.com
Videos: www.youtube.com/onecarlyle
Tweets: www.twitter.com/onecarlyle
Podcasts: www.carlyle.com/about-carlyle/market-commentary
Media Contact:
Claibourne Smith
Fish Consulting
954-893-9150
CSmith@Fish-Consulting.com
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SOURCE Trust Hospitality