California-based Vienna Capital has acquired a controlling stake in the iconic Plaza Resort & Spa in Daytona Beach, Florida. The purchase includes the hotel lobby, meeting spaces, spa, restaurants, and 100 guest rooms of the historic oceanfront property. This significant investment signals a potential revitalization for the resort and surrounding area.
New Owners, New Vision for Plaza Resort and Spa Daytona Beach
Vienna Capital, led by CEO Xiangjun Li and Chairman Jonathan Abraham Eid, purchased the controlling stake from Arbor Realty Trust. While the exact purchase price remains undisclosed due to a confidentiality agreement, public records indicate transactions totaling over $8 million for various portions of the property. The acquisition includes the resort’s well-known clock tower, a Daytona Beach landmark.
The new owners plan to capitalize on the Plaza Resort and Spa’s potential by upgrading amenities and adding more food and beverage options, potentially including new restaurants, a lounge, and entertainment venues. Their goal is to restore the resort to its former glory and enhance its value. While specific plans and timelines are yet to be finalized, particularly given the current economic climate, the owners expressed a strong commitment to investing in the property and the Daytona Beach area.
Plaza Resort and Spa Daytona Beach: A Historic Gem with Untapped Potential
The Plaza Resort and Spa holds a rich history, dating back to 1911, making it Daytona Beach’s oldest continuously operating hotel. Situated at the eastern end of Seabreeze Boulevard, its prominent clock tower greets visitors arriving via the Seabreeze Bridge. The resort’s location on the beach where Sir Malcolm Campbell set a world land speed record in 1928 adds to its historical significance.
The acquisition by Vienna Capital breathes new life into this historic property. The new owners’ vision aligns with local aspirations for revitalizing the Seabreeze Boulevard area into a vibrant entertainment hub. This investment could significantly impact the local economy and tourism industry.
Positive Outlook for Plaza Resort and Spa Daytona Beach and the Surrounding Area
Local business leaders and community members have expressed optimism about the acquisition. The new owners’ commitment to investing in the Plaza Resort and Spa is seen as a positive sign for the Daytona Beach area. Their plans to enhance the resort’s amenities and contribute to the revitalization of Seabreeze Boulevard could significantly benefit the local economy and tourism.
The future of the Plaza Resort And Spa Daytona Beach looks bright under the new ownership of Vienna Capital. Their planned improvements and focus on enhancing the guest experience promise to restore this historic landmark to its former grandeur and contribute to the ongoing revitalization of Daytona Beach.