Sandestin sale being negotiated [Update: Sold to Becnel Family]

[30ashopper]

the 8 million subdivisions and town names and zip codes have little or no relevance to tourists looking to visit or vacation in the area. that's kind of where locals get it wrong. yes, i know it matters to you whether or not it's a st. joe's development or it's peter bos in destin or a subdivision in santa rosa, but frankly, visitors are not that esconced in local politics. they don't care. they just call it whatever they call it. the fact that the region can't create a unifying marketing concept for the region has little or nothing to do with the "ignorance" of tourists. it's just not relevant folks and i can't tell you how little visitors want to hear people's lectures about how destin is not 30a is not sandestin, let alone how alys beach is different from rosemary beach. they just want to know where the fun and the amenities are and you can leave the map drawing to the locals.

now..back to sandestin. their problems have NOTHING to do with a zip code. the fact that people don't know it's a resort says something right there.

We've got that covered - "The Redneck Riviera", which is useful in keeping northerners away, or for friends, "The Emerald Coast".

 

[teamc]

We've got that covered - "The Redneck Riviera", which is useful in keeping northerners away, or for friends, "The Emerald Coast".

interesting you make the distinction between "northerners" and "friends". says quite alot.

 

[30ashopper]

Sounds like this sale is pending and will go through. Bubye Intrawest!

 

[robertsondavies]

anything you're going on to predict that?

 

[30ashopper]

anything you're going on to predict that?

I wasn't at the SOA meeting, but I read some meeting notes, apparently some spending initiatives are on hold until after the "pending sale" goes through.

 

[Kurt]

Press release from Intrawest:

Intrawest, a leader in the development and management of experiential destination resorts, today announced a definitive purchase agreement to sell its interests in Sandestin Golf and Beach Resort to the Becnel family of Destin, Florida. Specific terms of the agreement were not disclosed and the transaction is anticipated to close in the first quarter of 2010.


The purchase agreement also includes the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida and two hotel properties, The Marriott Residence Inn and The Marriott Courtyard, both located at Sandestin.


Once the transaction is finalized Intrawest and the Becnel family are committed to work together to ensure a smooth transition of ownership. Sandestin Golf and Beach Resort, Cottage Rental Agency and the Marriott hotels will continue to operate “business as usual” and the resort management teams will continue their commitment to delivering excellent guest service and experiences.

 

[Matt J]

So I guess I should have upped my bid?

 

[Kurt]

DESTIN, FL (March 16, 2010) ? The Becnel Family today announced the acquisition and purchase of Sandestin Golf and Beach Resort, the leading resort on Florida?s Emerald Gulf Coast. Terms of the agreement were not disclosed.

This purchase from Intrawest ULC also included the management contracts for Cottage Rental Agency, a community of beach homes located in Seaside, Florida; and the management contracts of the two Sandestin Marriott properties, the Courtyard by Marriott Sandestin at Grand Boulevard and Residence Inn by Marriott Sandestin at Grand Boulevard, both Howard Group developments.

The Becnel family and the property management teams are committed to continuing excellent service and memorable guest experiences. Teams are preparing for the upcoming popular spring and summer seasons, and staff members are being added to manage the additional demand.

The purchase of the resort by the Becnel family is expected to continue and even accelerate many of the positive changes that have occurred at the resort in the past year including a renewed focus on service that has significantly raised customer satisfaction scores. Spring and summer group and leisure business bookings are also exceeding previous estimates. The rental program has gained momentum in 2010 with improvements in rental owner communication and agreements. Plans for an expansion to the community transportation system are underway, and teams are working on reductions in the carbon footprint of the resort.

In related news, the Becnel family announced the creation of two newly formed holding companies, Sandestin Investments, LLC and Sandestin Real Estate of NW FL, LLC.

Sandestin Investments will be the new parent company for Sandestin Golf and Beach Resort and the Cottage Rental Agency in Seaside. John Russell, resort chief of Sandestin Golf and Beach Resort and former senior vice president of Intrawest, has been named President of Sandestin Investments.

Sandestin Real Estate of NW FL will oversee residential and commercial operations and transactions. Joe Bracciale, formerly the operating Broker for Playground Destination Properties Inc., has been named President of Sandestin Real Estate (Sandestin Real Estate Sales - Search for Property on Northwest Florida's Beautiful Emerald Coastline).

About Sandestin Golf and Beach Resort
Sandestin Golf and Beach Resort offers one of the most complete resort experiences in North America. Located on Northwest Florida?s Gulf Coast, Sandestin is a 2,400-acre destination resort for all seasons and for all ages. Sandestin invites guests to enter a world of 30 charming neighborhoods featuring 1,500 condominiums, villas, town homes and a wide variety of hotel accommodations. A member of the Beaches of South Walton, the resort features more than seven miles of sugar-white sand beaches and pristine bay front, four championship golf courses, 15 world-class tennis courts, 19 swimming pools, a 98-slip marina, a fitness center and spa, 65,000 square feet of meeting space and The Village of Baytowne Wharf, a pedestrian village featuring boutique shops, casual and fine dining restaurants and nightlife venues. For information, visit Sandestin Family Resort: Golf and Beach Vacation Resort ? Destin, Florida.

About The Becnel Family
The Becnel family develops and operates resorts, luxury condominiums, town homes and villas in Destin, Florida. The group is a family run business led by Tom and Damon Becnel, who have previously developed Silver Shells Resort, Silver Beach Towers, The Palms of Destin and One Beach Club Drive in Sandestin, Florida.