TBO.com - TBO is Tampa Bay Online

Business Briefs

ADVERTISEMENT

The Tampa Tribune

Published: December 21, 2007

TAMPA BAY AREA

Vinoy Has New Owner

The Renaissance Vinoy Resort & Golf Club, a AAA Four Diamond resort on St. Petersburg's waterfront, has a new owner but will remain under the Marriott International flag. The deal was completed Dec. 14 and announced late Thursday.

FelCor Lodging Trust of Irving, Texas, paid $225 million for the 361-room Vinoy and the 560-room Renaissance Esmeralda Resort & Spa in Indian Wells, Calif. The properties were purchased from entities owned by affiliates of Walton Street Capital, Rockpoint Group and SCS Advisors.

"We had a great owner for two and a half years with Walton Street Capital and now we have a long-term owner in FelCor that wants to be here for the long haul," Vinoy general manager Russ Bond said. "All of us here are fine. We work for Marriott, and our management agreement stays intact."

The landmark hotel from the 1920s and its marina recently had a $3.5 million renovation, which took a year and a half. There also was a makeover of two Presidential Suites, the historic Plaza Ballroom and meeting rooms. The lobby was redecorated with a history gallery that will be part of guided tours. The Lobby Promenade Lounge was reconfigured, and the entrance to Marchand's Bar & Grill was redesigned.

STATE

Longboat Marina Sold

The Longboat Key Club and Resort has bought the Longboat Key Moorings Marina for $8 million from Longboat Key Marina Associations. The 291-slip marina provides direct access to Sarasota Bay.

Fuel Hurts Carnival Profit

Carnival said Thursday that its fiscal fourth-quarter net income fell 14 percent, hurt by higher fuel prices, but results beat analysts' expectations. Profit for the quarter ended Nov. 30 fell to $358 million, or 44 cents per share, from $416 million, or 51 cents per share, last year. Revenue rose 11 percent to $3.12 billion from $2.81 billion last year. For the fiscal year, net income rose 6 percent to $2.41 billion, or $2.95 per share, from $2.28 billion, or $2.77 per share, last year. Annual revenue rose 10 percent to $13.03 billion from $11.84 billion.

NATION

Mortgage Rates Edge Up

The mortgage company Freddie Mac said Thursday that 30-year, fixed-rate mortgages averaged 6.14 percent this week. That compares with 6.11 percent last week and was the highest since averaging 6.20 percent the week of Nov. 21. Just two weeks ago, 30-year rates had dipped to 5.96 percent, the lowest in more than two years.

A staff and wire report

Watch the Tribune's Business report at 5, 6 and 11 a.m. Tuesday to Friday and 9 a.m. Saturdays on WFLA-TV.

Share this:

Loading Comments...

Email Print

ADVERTISEMENT