Much is unclear about what is happening at Marco Beach Ocean Resort, but two things are clear: the property is undergoing major changes and no one wants to talk about it.
At least not on the record. The “all-suite beachfront boutique resort” (their website description) on Collier Boulevard operated primarily as a hotel for years, but the 103 suites were owned by individual owners, who had the option of whether or not to participate in the global chamber. rental program.
Owners of units participating in the program have received a letter dated February 1, 2022 from FCC Hotel Tower LLC, the rental manager, advising them that the rental agreement is terminated.
“As discussed, we are disappointed to report that the number of units in the hotel program has fallen to less than sixty (60) and the revised projected NOI…has decreased by more than 10%…. please authorize this letter to serve as three (3) months written notice to the Hotel Manager of his decision to terminate the contract, effective May 2, 2022.”
Attempts to reach Gulf Bay Group of Properties, the developer of Marco Beach Ocean Resort (MBOR), for comment were unsuccessful. Chelsea Kolenda, MBOR’s chief executive, did not return multiple calls seeking comment.
While the MBOR hotel suite rental website is still active, all dates up to the end of this year entered into the system have not allowed reservations. Most dates are simply checked and those that are not display a message: “You have selected a restricted date. A date in your stay is not available. If reservations had been available, prices during the month of April would be between $917 and $1,002 per night.
The event that triggered the steep drop in the number of units in the hotel program appears to have been the sale of a large block of units. The Collier County Property Appraiser website shows 22 MBOR units held by an entity listed as MBOR Investments LLC, with a massive transaction on December 7, 2021, with a price tag of $9,000,000.
In total, the property appraiser’s site lists 22 units owned by MBOR Investments, with acquisition dates for 18 units listed as December 7, and the others dating back to April 2018, May 2019 and June 2020. The latest transaction took place on January 11, priced at $485,000. The principal representative of MBOR Investments is Thomas A. Drummond. Through a third party, he declined to be interviewed or to make a statement for this article.
Hotel room rentals still appear to be available through third-party booking companies, such as Expedia, Tripadvisor, Kayak, Orbitz, and Hotels.com. But therein lies part of the MBOR problem.
While the resort’s number one amenity is surely the strip of sugar-sand Marco Island beach behind it and the waters of the Gulf of Mexico, the property has a number of amenities and common areas on the beach. property itself. As general owner of the property, Gulf Bay controls areas such as the lobby, parking lot, elevators, and pool.
According to MBOR’s website, the resort “also features a spa and fitness center, executive conference rooms, a waterfront ballroom, an on-site swimming pool, rooftop, beach and poolside dining, and casual and fine dining options.” That customers or rental unit visitors who have not gone through their centralized reservation system, and thus provide revenue to the developer, have access to these amenities is an issue that arises again with each new group of visitors. Sale e Pepe, the adjacent restaurant, is another question mark.
The property underwent a full renovation in 2016 of its 78 one-bedroom suites and 15 two-bedroom suites, as well as updates to the resort’s Gulf Ballroom. Unit owners were reportedly advised last summer to expect an assessment of the work to be done.
There are reports of staff being fired at MBOR, but these could not be confirmed due to lack of response from resort management.
“We have 100 open positions with a total of 1,1100 in our workforce,” said Amanda Cox, director of sales and marketing at JW Marriott Marco Island Beach Resort. “We would welcome these applicants with open arms, but we haven’t seen a flood” of applications.