Highline Hospitality Partners Inks Third Deal With Acquisition Of Pearl South Padre Resort Transitioning To A Margaritaville Resort After Renovations
The New Ownership Tapped Aimbridge Hospitality To Manage The Property, Set To Open In 2022
Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has added their third property with the acquisition of Pearl South Padre Resort in Texas and tapped Aimbridge Hospitality, the leading, global, third-party hotel management company, to manage the property.
Highline Hospitality Partners (HHP), the hospitality investment platform launched by Highline Real Estate Partners (HREP), has added their third property with the acquisition of Pearl South Padre Resort in Texas and tapped Aimbridge Hospitality, the leading, global, third-party hotel management company, to manage the property. They are preparing to convert the destination to a Margaritaville resort, the global lifestyle brand synonymous with fun and escapism, with an expected opening of Summer 2022.
New York City-based Highline Hospitality Partners' team has over 60 years of combined experience across sourcing, purchasing, asset-managing, renovating, repositioning, and selling hospitality properties and has operated all classes of hotels. With unique investment experience and deep industry relationships, Highline seeks out undervalued and underperforming properties with a "buy it, fix it" strategy that has seen success in building a diverse and dynamic portfolio.
"We are thrilled to add the Pearl South Padre Resort to our growing portfolio," said Highline Hospitality Partners' Managing Partner, Chuck Pomerantz. "We believe with our team's combined experience and Aimbridge's proven operating acumen that this property will find much continued success now and in the future with a beloved brand like Margaritaville. "
Pearl South Padre Resort comprises 200 rooms and suites and 53 beachfront residence condos in one, two, or three-bedroom configurations. All rooms feature a refrigerator, and all condos are equipped with complete kitchens and full-size appliances. The property is the only all ocean view resort in the area, with a private balcony and views of the Gulf of Mexico in every room.
Additional amenities include an on-site spa with Aveda botanicals and products, the area's largest outdoor pool boasting a hot tub, swim-up bar and kids-only pool, and fitness and business centers. Dining options include the Beachside Bar & Grill for indoor and outdoor service and Palapa Bar & Grill for poolside eats. The property also has 8,500 square feet of meeting and event space for corporate gatherings, weddings, and more.
Once renovations are complete, the resort will officially transition to a Margaritaville destination, which will, upon opening in 2022, transport guests, families, and travelers to a vacation state of mind.
Pearl South Padre Resort is located at 310 Padre Blvd, South Padre Island, Texas 78597. For reservations, visit: https://www.pearlsouthpadre.com/.
About Margaritaville
Margaritaville, a state of mind since 1977, is a global lifestyle brand inspired by Jimmy Buffett, whose songs evoke a passion for tropical escape and relaxation.
Margaritaville features over 20 lodging locations and over 20 additional projects in the pipeline, with nearly half under construction, two gaming properties and over 60 food and beverage venues including signature concepts such as Margaritaville Restaurant, award-winning JWB Prime Steak and Seafood, 5 o'Clock Somewhere Bar & Grill and LandShark Bar & Grill. More than 20 million travelers every year change their latitude and attitude with a visit to a Margaritaville resort, residential real estate destination, vacation club, vacation home rental or restaurant. Consumers can also escape everyday through a collection of Margaritaville lifestyle products including apparel, footwear, frozen concoction makers, home d cor, a satellite radio station and more.
To learn about Margaritaville's commitment to health, safety and sanitation, please visit us online: https://www.margaritaville.com/healthandsanitationcommitment.
About Aimbridge Hospitality
Aimbridge Hospitality is a leading, multinational hospitality company offering best in class hotel management services across a broad spectrum of franchised branded full and select service properties, luxury hotels, destination resorts, convention centers, and lifestyle hotels. Aimbridge's premium portfolio, inclusive of pipeline, represents over 1,550 properties in 49 states and 22 countries, with 70 lodging brands under management. As the world's largest third-party operator, Aimbridge is dedicated to its mission to be the best hospitality operator by leveraging its scale to add value for owners and opportunities for associates. Aligned with a concentrated focus, agility, and expertise for each vertical, or hotel product c ategory, Aimbridge drives market success for hotels and optimizes investment returns for owners. Aimbridge Hospitality is based in Plano, Texas, with additional corporate offices in Atlanta, Calgary, Fargo, Puerto Rico, Toronto, and Washington D.C. Evolution Hospitality, Aimbridge's Lifestyle Division, is based in San Clemente, Calif. Aimbridge's International Division, Interstate Hotels & Resorts, has supporting offices across Europe in Amsterdam, Birmingham, Glasgow, and Moscow.
For more information on Aimbridge Hospitality, please visit www.aimbridgehospitality.com and connect with Aimbridge on LinkedIn.
About Highline Hospitality Partners
Highline Hospitality Partners is an operations-oriented investment firm that sponsors and invests in full-service and select-service hotels and resorts throughout the United States. HHP is led by an experienced, cycle-tested principal investment team with deep hotel operating expertise. The firm targets opportunities where it can drive significant value through operational enhancements, strategic capital deployment, and disciplined asset management. HHP combines the judgment and value creation of an experienced strategic buyer with the execution capabilities of an experienced financial buyer. HHP invests its own capital, as well as that of select third-party institutional and ultra-high-net-worth investment partners. The combination of HHP’s investment philosophy and the long-term nature of its funding enables it to match any length of investment horizon that its investment partners might have, including infinite. For more information, please visit www.highlinehp.com.