NEW YORK, September 28, 2021 / PRNewswire-PRWeb / – HotelAVE has been named Asset Manager of Banyan Cay Resort & Golf, the highly anticipated 250 acre resort and golf course in West Palm Beach this will be the first Destination by Hyatt hotel in Florida and the first full-service Hyatt hotel in Palm Beach County. In collaboration with the property’s owner groups, Banyan Cay Resort & Golf, LLC and Banyan Cay Investments, as well as its management company BENCHMARK®, a global hotel company, hotelAVE will oversee the development project, which is due to open early in 2022. Banyan Cay will be named after its Opening of the largest renovation project in. be West Palm Beach in two decades.
“We are very excited to be part of this exciting project. The vision for Banyan Cay Resort & Golf is becoming a reality and we are confident that it will be one of the best golf resorts in the world Florida when it opens next year, “says Michelle Russo, CEO of hotelAVE. “We look forward to working with the Hyatt and Benchmark teams.”
Centrally located in West Palm Beach, Banyan Cay Resort & Golf is close to world class shopping and dining in Palm beach, as well as coveted sports venues, water activities, and more. The resort will feature 150 oversized guest rooms and suites, 22 three-bedroom villas, two on-site restaurants, a lush spa inspired by West Indian rituals, and flexible function spaces for social and corporate functions. Guests have access to a myriad of amenities, including resort-style swimming pools, six tennis courts, and four pickleball courts. The crown jewel for golfers is Jack Nicklaus’ 300th signature course with 18 holes surrounded by West Palm Beachs natural beauty.
Previously asset management and advice for over 145 hotels in Florida, hotelAVE is currently the asset manager in five Florida Hotels and 10 more hotel projects to open in 2022 or 2023, making it a unique position to take Banyan Cay to the next level. The company uses its proprietary RoadMAP ® process, which accelerates openings and accelerates stabilization.
HotelAVE continues to expand its portfolio and expand its team consisting of former hotel owners, operators and professional hospitality consultants who provide hotel owners with a unique and hands-on operating experience of superior value and above-average returns. away January 2021, hotelAVE was at over 25% of all North America Hotel transactions via $ 25 million sold, be it as an asset manager for the seller, buyer or to carry out acquisition due diligence, lender underwriting or other consulting services.
Hotel Asset Value Enhancement (hotelAVE) is the leading independent hospitality property investment manager providing asset management and advisory services to hospitality property owners, investors and lenders. The organization has provided services to over 1,000 hotels; their current asset management portfolio includes over $ 6.5 billion, 22,000 rooms and over 30 different hotel operators. HotelAVE also advises on an additional $ 10 billion of hotel properties annually, including acquisition due diligence, underwriting, development, financing, manager selection, franchise agreements, repositioning, renovation, divestments and lender services. Please visit hotelave.com for more information.
For convenience, the term “Hyatt” is used in this press release to refer to Hyatt Hotels Corporation and / or one or more of its affiliates.
About Destination by Hyatt
The Destination by Hyatt brand is a diverse collection of independent hotels, resorts and residences that are individual at heart but connected by a commitment to embody the true spirit of each location. From upscale to luxurious, each property is a place of complete discovery, authentic design, and warm and welcoming service. As an honored host, every Destination by Hyatt hotel connects its guests with people and places – and offers a sense of belonging that invites everyone to make our destination theirs. Please visit destinationbyhyatt.com for more information. Follow the Destination by Hyatt brand on Instagram: @destinationhotels, Twitter: @Destination and Facebook: Destination by Hyatt
About the development of Banyan Cay
Banyan Cay Resort & Golf Deals West Palm Beach a new luxury resort and living experience. With the 300th Signature Golf Course by Jack Nicklaus, state-of-the-art golf practice facilities, the clubhouse inspired by the West Indies and a new destination hotel February 2022, Members, residents and future guests alike a refined, relaxing experience. The central location in one of South Florida biggest travel hotspots, offers the best of both worlds – a break away from the crowds while being just a short drive from the many attractions of Palm Beaches. Please visit banyancay.com for more information.
About BENCHMARK®, a global hospitality company.
BENCHMARK®, a global hospitality company, is a leader in the development, management and marketing of independent soft-branded resorts, hotels and conference centers. In addition to its award-winning, full-service Benchmark Resorts & Hotels, its lifestyle and luxury gem collection, and its industry-leading benchmark conference centers. BENCHMARK is also an investor in etc.venues, a leading provider of modern city center venues for meetings, unique events and conferences. Benchmark’s combined portfolio includes more than 80 unique projects on three continents. The company is passionate about delivering personal, inspiring and memorable experiences, increasing overall sales and profitability, and cultivating an award-winning “Be The Difference” culture for all of its employees. Benchmark, based in The woods (Houston), Texas, with offices in London, England; Miami, Florida; Park City, Utah; Scottsdale, Arizona; New Brunswick, New Jersey; Seattle, Washington; and Tokyo, Japan. http://www.benchmarkglobalhospitality.com To become a fan on Facebook, visit http://www.facebook.com/BenchmarkResortsandHotels, http://www.facebook.com/GemstoneHotelCollection. Follow us on Twitter at http://www.twitter.com/BenchmarkHotels, http://www.twitter.com/GemstoneHotels, on Instagram at http://www.instagram.com/benchmarkresortsandhotels, http: // www . instagram.com/gemstonehotels and on Pinterest at http://www.pinterest.com/benchmarkhotels/gemstone-hotels. At LinkedIn, https://www.linkedin.com/company/benchmark-a-global-hospitality-company/
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Jessica Milton, Benchmark, a global hospitality company, +1 (786) 714-6268, [email protected]