Sheraton Expands With New Bay Point Resort
Tuesday, October 13, 2015
Monday, in a press release, Sheraton Hotel & Resorts Worldwide, Inc. announced that they are expanding their portfolio with the Sheraton Bay Point Resort in Panama City Beach. Within the press release, Sheraton also announced plans for a $30 million dollar renovation at the resort.
The Bay Point Resort was recently acquired by Bay Point Fund 8, LLC (part of CAI Investments, LLC). This addition to Sheraton’s portfolio is just one of 150 new properties Sheraton Worldwide plans to add by 2020.
Senior VP of North America Development, Starwood Hotels & Resorts Worldwide, Inc, Allison Reid shared,
“Sheraton Bay Point Resort represents another strong addition to the growing Sheraton portfolio and gives Starwood a foothold in Panama City Beach, one of the most sought-after vacation destinations on Florida’s Emerald Coast. Strategic conversions in targeted destinations like this one continue to propel the Sheraton brand’s growth across North America and beyond.”
After construction is completed, Sheraton feels that this property will become one of the most popular resorts in Panama City Beach. Located on a 1,100-acre preserve on St. Andrew’s Bay, the Sheraton Bay Point offers scenic views of the water and surrounding areas.
Through the renovations, Sheraton plans to introduce 319 guest rooms: 200 in the main resort building and 120 golf-course villas. The hospitality company will also refurbish the main resort areas including three restaurants, 40,000 square feet of meeting space, three pools, two golf courses, a clubhouse, and a full-service spa.
Managing Partner of Cai Investments, Christopher Beavor added,
“We are delighted to partner with Starwood Hotels on this project, and look forward to raising the Sheraton brand flag in 2016 at this premier resort in Florida’s panhandle. Following the renovation and repositioning, we expect Sheraton Bay Point Resort will significantly raise the bar for resorts in this area and emerge as a leading choice among global travelers.”
The new Sheraton Bay Point Resort is scheduled to reopen in 2016. For more information on Starwood and Sheraton resorts, visit SellMyTimeshareNow.com.