Plasencia Group brokers $190 million sale of Pier House Resort & Spa

The Plasencia Group advised Braemar Hotels & Resorts on the sale of the 142-key Pier House Resort & Spa in Key West to Sixth Street and Riller Capital. The $190 million deal underscores continued investor demand for trophy waterfront hotels in one of the country’s strongest leisure markets.

Why it matters: - The $190 million sale puts a price tag of $1.34 million per key on one of Key West’s best-known waterfront resorts. - The deal reflects continued demand for high-end leisure assets in a market the release describes as a top RevPAR performer outside New York and Hawaii. - The transaction adds another large Florida disposition to The Plasencia Group’s long record in the state.

What happened: - The Plasencia Group represented Braemar Hotels & Resorts in the sale of Pier House Resort & Spa in Key West, Florida. - Sixth Street and Riller Capital bought the 142-key resort for $190 million. - Managing Directors John Plasencia, Chris Plasencia and Nick Plasencia, along with Senior Managing Director Robert Wiemer, led the transaction.

The details: - Pier House sits on five waterfront acres at 1 Duval Street. - The property includes a private beach and about 800 feet of ocean frontage. - The resort is positioned at the gateway to Duval Street, Key West’s main dining, shopping and entertainment corridor. - The property’s bar, The Chart Room, is where Jimmy Buffett launched his career, adding to the hotel’s local identity. - The release describes Pier House as the “crown jewel” of Key West hospitality and says the site offers a rare combination of waterfront access and direct access to Duval Street. - The company said that positioning helps the resort capture high-rate leisure demand in the market. - The Plasencia Group said the sale continues its track record as a leading lodging investment advisor in Florida. - Since 1993, The Plasencia Group says it has facilitated the sale of more than 125 properties in Florida. - The Plasencia Group was founded in 1993 by CEO Lou Plasencia. - The firm offers transaction services, capital markets, owner representation and development management consulting. - A company contact listed for the announcement is Matthew Sinclair of The Plasencia Group, along with the firm’s LinkedIn page: the company's LinkedIn page. - The company website listed in the release is more information.

Between the lines: - The sale highlights how trophy resort assets in tightly supply-constrained destinations can still draw premium pricing. - Key West’s waterfront location and brand cachet appear to be central to the value story here. - The transaction also signals that institutional buyers remain active in select upscale leisure markets despite a broader cautious capital environment.

What's next: - Sixth Street and Riller Capital will take ownership of the resort after the closing. - The property’s next chapter will likely focus on preserving the asset’s premium positioning in Key West’s leisure market. - The Plasencia Group is likely to keep leaning on Florida hospitality deals as a core part of its advisory business.