PM Hotel Group takes over the Hyatt House Naples/5th Avenue
PM Hotel Group has taken over the Hyatt House Naples/5th Avenue in Naples, Florida. The Chevy Chase, Maryland, operator announced the addition to its managed portfolio in October and lists the hotel on its own hotels page.
The hotel joins a group of Hyatt properties the operator runs across the United States and Hawaii.
183 rooms at 1345 5th Avenue South
The hotel holds 183 rooms at 1345 5th Avenue South. It sits on the Gordon River at the eastern end of downtown’s 5th Avenue South and opened in 2016.
The inventory runs past standard keys. Alongside traditional guestrooms, the hotel offers studio, one-bedroom and two-bedroom suites, and many of those carry full kitchens and balconies.
A marina, a resort-style pool and Latitude 26
The amenity set starts at the water. The hotel holds an on-site marina and a resort-style outdoor pool, and it operates Latitude 26 restaurant and bar. A fitness center and complimentary breakfast complete the guest offer. Meeting space measures approximately 3,100 square feet in the announcement.
The partners in operation
Paul Sacco named two partners at the property. “We are particularly thrilled to partner in operation with Finfrock and The Plasencia Group on this fantastic property,” the operator’s chief growth and development officer said in the announcement.
Finfrock is a Florida design and construction firm with a manufacturing base in the state. The Plasencia Group is a Tampa-based hotel investment advisory. The announcement sets out no ownership share or supply role for either partner at the hotel.
Paul Sacco on an established asset
Sacco tied the addition to the operator’s owner relationships. “The addition of Hyatt House Naples/5th Avenue reflects the kind of thoughtful, long-term partnership our owners expect from us, whether that means stepping into a well-established asset or positioning it for its next chapter,” he said.
He set the Florida case alongside it. “Florida continues to be an important growth market for us, and we’re excited to expand into Naples with a property that reflects our ability to tailor our approach across hotel segments and deliver strong performance for our owners.”
The portfolio the hotel joins
The announcement places the hotel inside a national portfolio of 90+ hotels, with multiple Hyatt properties coast to coast and in Hawaii. The operator’s own hotels page carries a different headline count and reads 80+ hotels across 20 states.
Two other Florida addresses appear on that page. PM Hotel Group manages the Southbank Riverwalk Hotel in Jacksonville, and it lists a W Orlando asset management assignment as coming soon.
The announcement states no management fee, no contract term and no prior operator.