The JW Marriott Marco Island Beach Resort, a longtime gem of both Marco Island and of Southwest Florida, is being sold.To be clear, Marriott International doesn’t own the property, though it once did.
Barings LLC, the $481 billion asset management arm of insurer MassMutual owns the property, along with the JW Marriott’s two 18-hole golf courses in Naples. Barings is selling the luxury hotel operated by Marriott International, along with its Hammock Bay and Rookery golf courses, to Sculptor Diversified Real Estate Income Trust, Inc., for $835 million cash, according to a filing with the U.S. Securities and Exchange Commission.
The deal, officially with Marco Hotel LLC and HB Naples Golf Owner LLC, is scheduled to occur on or before May 1.
The JW Marriott Marco Island Beach Resort, Marriott International and Barings have not replied to emails or phone calls from the USA Today Network – Florida, Naples Daily News.
What we know about the JW Marriott Marco Island Beach Resort
See luxury JW Marriott resort in Marco Island, Florida
The Marco Island, Florida, resort is being sold by Barings LLC to Sculptor Diversified Real Estate Income Trust, Inc., for $835 million cash.
The resort began as the $800,000, 50-room Marco Beach Hotel in 1965, along with the opening of Marco Island itself. The Mackle Brothers, who developed Marco Island, expanded in 1967, to 100 rooms and 44 villa units.In December 1971, an $18 million refurbishment designed by Herb Savage created a 10-story, 400-room resort, all with Gulf views, becoming the centerpiece to the Mackle Brothers’ development. The hotel was renamed The Marco Island Beach Hotel and Villas.To raise money for a decade of lawsuits and challenges to some of the Mackle Brothers’ Deltona Corporation’s planned residential developments, the brothers sold the hotel to the Marriott Corp. in 1979 for $35 million.The JW Marriott is now an 809-key beach resort with more than 10 acres of private beachfront land and two 18-hole golf courses owned by Barings LLC.In 2019, Barings took on $320 million in renovations and a change to the luxury JW Marriott brand from a high-end Marriott hotel.Facts about the JW Marriott in Marco IslandLocated at 400 S. Collier Blvd.12 restaurants that are open to the public: Ario steakhouse; 10K Alley American food inside the arcade, laser tag, bowling and gaming center; Tesoro Italian; Maia breakfast; Quinn’s American beach restaurant and bar; Korals Sushi & Cocktail Lobby Bar with an adults-only option after 10 p.m.; Mosaico beachfront pizza; Kane Tiki Bar & Grill; Lana walk-up bar; Café San Marco coffee, food, snacks, beverages; Rookery Grill and Hammock Bay Grill are located at the resort’s golf courses.Multiple pools including a 21+ pool.Three towers: the Palms Tower (built in 1972 and renovated in 2016), the Islands Tower (built in 1982 and renovated in 2016) and the Lanai Tower (built in 2019).Paradise by Sirene includes an adult-only (over 21) “private enclave” with wrap-around balconies and its own pool.Clothing and jewelry shops on property.A convention center.A luxury Spa by JW with private pool and cabanas.
J. Kyle Foster is a senior growth & development reporter for The News-Press & Naples Daily News. Reach her by emailing jfoster1@usatodayco.com.
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