Dolphin Beach Resort on St. Pete Beach sold to Tampa Bay Buccaneers co-chairman
By Breanne Williams
Tampa Bay Business Journal
Published: May 25, 2022

SCG Beach Hospitality, an LLC controlled by Tampa Bay Buccaneers co-owner and co-chairman Bryan Glazer, has acquired The Dolphin Beach Resort in St. Pete Beach.

Dolphin Holdings Limited Inc. first purchased the historic 173-room resort at 4900 Gulf Blvd. in 1981 for $475,000, according to a deed filed in Pinellas County. The ownership group says it has believed in the international appeal of the St. Pete Beach market since acquiring the resort more than 30 years ago, said Nizar Lakhani, president of Dolphin Holdings Limited Inc.

“We are pleased to be passing on the keys to the resort to Shanna and Bryan Glazer, a well-respected local family who we know will be great stewards,” Lakhani said in a release.

The Plasencia Group, a hospitality investment advisory firm, announced Wednesday that SCG Beach Hospitably purchased the resort, and the plan is to renovate the new acquisition as well. A sale price was not disclosed, and a Pinellas County deed has not yet been filed.

“St. Pete Beach is the No. 1 beach in the United States, and we think that the future will only get better for the area,” Glazer, principal of SCG Beach Hospitality, said in a release. “We look forward to maximizing the potential that we believe the Dolphin Beach Resort offers.”

This is the second resort acquired by the Glazers in the area. In August 2018, they acquired The Vinoy Resort & Golf Club in downtown St. Petersburg for $188.5 million, or $512,000 per key. The resort is currently undergoing a massive renovation and repositioning. Phase 1 is scheduled to complete at the end of this year.

The resort has 400 feet of frontage along the Gulf of Mexico, an outdoor heated pool, Flipper’s Beach Bar, two shuffleboard courts, a beach volleyball net, a cocktail lounge, and 6,500 square feet of meeting space, according to the resort’s website.

Nick Plasencia and Chris Plasencia of The Plasencia Group facilitated the transaction.

The firm has orchestrated the sale and financing of “more than 2,500 rooms across the Sunshine State’s most active lodging markets in the past year, at an average value of nearly $350,000 per key,” according to The Plasencia Group.

“The Dolphin Beach Resort enjoys pride of place at the heart of St. Pete Beach, one of the nation’s most attractive lodging destinations,” said Nick Plasencia. “We look forward to seeing what the Glazers have in store for this generational resort.”