The city is already the fourth most expensive hotel market in Florida, according to Smith Travel Research, Key West, Upper Keys and Miami Beach, with seasonal ADR spikes in March of around $400 per night. However, in luxury hotels, ADR can be 50 percent higher, according to a CoStar study report conducted for Collier County.
A number of hotels have changed hands recently, suggesting that potential lodging options in Naples could skyrocket to the luxury category in the short or long term: Collier County’s report classifies 54% of progressing rooms as “luxury. “
The headliner would be Naples Beach Club, a Four Seasons Resort, a redevelopment of the Naples Beach Hotel. The 216-room hotel, owned by the Athens Group, will be the first outpost on Florida’s Gulf Coast for Toronto-based luxury chain Four Seasons. , which will manage it.
Acquired for $362 million, the 125-acre site will have 100 fewer hotel rooms than before, but will add 58 luxury residences. The value of the hotel is yet to be announced and is expected to be the most sensible on the market.
More hypotheses about the long-term market revolve around the 18-story Naples Grande Beach Resort. Opened in 1988 as The Registry, the 474-room assets acquired last year for $248 million through Henderson Park HP Advisors and London-based South Street Partners, a North Carolina personal equity real estate firm.
Already a full-fledged hotel with a spa, 15 tennis courts, a nearby 18-hole golf course, and an exclusive beach, this 35-year-old hotel is completely promising. The vendors, Northwood Hospitality, were contracted to manage the hotel. So far, no primary adjustments have been revealed, said Melinda Hutchins, director of sales and marketing.
The option that the Naples Grande might simply improve on elegance (and price) has caused some unease among some travelers, said Hutchins, who noted that assets lately sit in a satisfied middle ground between mid-market and mind-boggling luxury hotel rates.
“Lately we’ve been finding the right balance,” he said, adding that he had already heard from some of his regular business contacts. “They say, ‘Please don’t go too high. We need to be able to stay there. ‘”
Driving the trend toward greater luxury is the scarcity of large properties along the coast, said Robert Taylor, executive vice president in the Miami office of Hunter Hotel Advisors, a brokerage. Strict zoning laws also apply. “You can’t knock anything down and build anything up,” he said.
Naples is also a residential magnet for great CEOs, which has also contributed to the rise of luxury accommodation. “Rock stars from corporate America come to Naples,” Taylor said, and business-related occasions at luxury properties.
Many of the CEOs hold board meetings and other purposes at the Fifth’s 119-room Inn, said Shereen Ghandour, its director of sales and marketing. The boutique hotel in central Naples was acquired last year for $108 million through the Pebblebrook Hotel Trust.
“It’s like a community,” Ghandour said of the older clientele. “It becomes the meeting place. “
The inn, where December weekend rates start at $459, also hosts many destination weddings and sells out each and every first weekend in February for the Cars on 5th Concours, a charity event showcasing rare and exotic vehicles organized through the Ferrari Club of America. .
In recent years, Naples has suffered two major hurricanes: Irma in 2017 and Ian last year. The far north of the destination is just recovering from the latter situation. The 474-room Ritz-Carlton in Vanderbilt Beach reopened in July, adding 14 two-story towers with 70 Club-level rooms, as well as a 4,000-square-foot Club lounge and 3 new restaurants. A Saturday night stay here in January will cost $1,056.
Just down the street, LaPlaya Beach and Golf Resort is still closed; Available room rates start at $1,189 for a Saturday night and stay in January. The 40-room Bay Tower and 70-room Gulf Tower have reopened, while the 79-room Beach House, with its spa and fitness center, is expected to reopen through the end of the year.
In addition to luxury developments, Naples will get its largest hotel to date next year, with the opening of the 500-room Great Wolf Lodge complex. As part of a chain of family-friendly indoor water parks, the Great Wolf is being built alongside the Paradise Coast Sports Complex, a prime venue for touring youth sports competitions.
Plans include a water park and an adventure park, scheduled to open Oct. 1.