Marriott Vacation Club at Marco Island, Florida—Planning to Stand Tall
Thursday, June 8, 2006
Marriott Seeks One More Place in the Sun
Marriott Vacation Club International is buying the Radisson Suite Beach Resort on Marco Island. The $58 million dollar sale is scheduled to close on June 30, 2006. As a Radisson hotel, the property currently offers 233 hotel rooms. Marriott Vacation Club (a timeshare/vacation ownership club) would like to expand the present accommodations into condo-size units for timeshare use and to build vertically, creating a structure that is substantially taller than the 150-foot height currently permitted by city ordinances.
On behalf of the property’s purchaser, Boykin Lodging Company, a real estate investment trust, has been in discussions with Marco Island city planners in hopes of reaching a compromise that will satisfy both parties. In the event an agreement is not reached, the closing on the sale of the property could be delayed to July 30.
Marco Island, situated on the Gulf Coast, is the largest of Florida’s Ten Thousand Islands and boasts miles of pristine beaches, sugary white sand, and tropical vegetation.
