WASHINGTON, DC—The Buccini/Pollin Group (BPG) has acquired the 238-room Hilton Melbourne Rialto Place in Melbourne, FL. PM Hotel Group will operate the hotel.
“BPG’s recent acquisition of the beautifully renovated Hilton Melbourne Rialto Place reflects the continued success of our strategy of acquiring newly renovated, premier-branded, full-service hotels in key business markets across the U.S.,” said Dave Pollin, co-founder, BPG. “With strong marketing and management, we believe this hotel has excellent upside. We now own and operate 26 hotels with several other acquisitions and development projects in the works.”
The hotel recently completed an extensive $5-million upgrade. With more than 12,000 sq. ft. of function space, the Hilton Melbourne Rialto Place is one of the busiest meeting and event hubs on Florida’s Space Coast, according to the company.
It was an active 2017 for BPG. The highlights include the following:
- Completed construction on the 310-room Embassy Suites Midtown Manhattan, the only Embassy Suites in New York City, opening Jan. 17
- Acquired the 238-room DoubleTree by Hilton Wilmington, DE
- Broke ground on the 260-room Virgin Hotels Nashville, TN, in partnership with Virgin Hotels and founder Richard Branson
- Acquired the Hotel Du Pont in the heart of Wilmington, DE
- Acquired the Sheraton DFW Airport Hotel, a 302-room, recently renovated hotel in Irving, TX, epicenter of the Dallas Metroplex
- Completed more than $30 million in renovations, upgrades and repositioning, including a complete reimagining of the 353-room Sheraton Raleigh Hotel in Raleigh, NC; opening the first Renaissance Hotel in downtown Philadelphia; and an addition and comprehensive renovation of the Fairfield Inn by Marriott King of Prussia, PA
- Nearing completion of the 177-room Canopy by Hilton Hotel Washington, DC – Bethesda North, opening in February 2018
- Nearing completion of the 153-room Canopy by Hilton Portland, OR – Pearl District in April 2018
“We maintain a full acquisition and development pipeline as we enter 2018,” Pollin added. “With the economy continuing to hum along and continued low interest rates, we forecast a happy and healthy New Year for both BPG and the hotel industry at large.”