October 2017 – Procaccianti Companies, the nation’s premier privately-held owner & developer of quality hospitality assets, announced it has acquired the 196 room Post Card Inn located at 6300 Gulf Boulevard, St Pete Beach, Florida. With the acquisition of this iconic beachfront hotel, the company remains on-track for a record year in 2017.
“With its irreplaceable beachfront location, the Post Card Inn is a wonderful addition to our national portfolio” states Rob Leven, chief investment officer for Procaccianti Companies.
Catering to guests who are happiest in bathing suits and bare feet, Postcard Inn On The Beach recalls the bygone days when road trips ruled and surfers were the undisputed stars. “Hip, affordable and resolutely casual” says Travel + Leisure of our sun-kissed St. Pete Beach Gulf Front resort, where guests kick back in surfer chic guest rooms, savor fresh Floribbean cuisine and sip cool tropical cocktails and local brews at the oldest bar on the beach.
About Procaccianti Companies (procaccianti.com)
Procaccianti Companies (est. 1958) is a nationally ranked, fully-integrated real estate investment and services firm headquartered in Cranston, Rhode Island. Procaccianti Companies focuses on core, core plus, value add and opportunistic investments in all sectors of real estate. Throughout nearly six decades and with over $1.5+ billion in equity deployed, Procaccianti Companies has established an extensive network of financial, brand, broker, and investment partners that enable the Company to execute it business strategy and sophisticated platform to maximize yields, drive asset value, and deliver above-market risk adjusted returns.
About TPG Hotels & Resorts (tpghotelsandresorts.com)
Pre-approved by all the leading global hotel brands, TPG Hotels & Resorts is an operator of hospitality assets across all chain scales with a historical operating platform of over 150+ branded, independent and boutique hotels comprising more than 25,000 guestrooms in 30 states. Today, TPG Hotels & Resorts is a top tier, U.S.-based hospitality management company generating over $840 million in annual revenue. TPG is a vertically integrated organization actively engaged in hotel operations, development and acquisition/asset repositionings across the country.