The Naples Beach Club's sale price of $362 million is public record. The exact price of $362,289,599 was recorded in Collier County, where the iconic property changed hands Thursday.
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The Athens Group, which owns luxury hotels across the country, purchased the property in 2021 for more than $362 million, but Naples Beach Club still owns 10 acres on the east side of Gulf Shore Boulevard North.
Key takeaway: Work on the Naples Beach Club is moving along with the hotel property under construction and approvals from the city pending. Core challenge: While the hotel could open as soon as 2025, a lot of work remains to be done, including the construction of several major pieces of the redevelopment.
The old hotel has been demolished and construction on a new beachside Four Seasons Hotel has begun. The new hotel will include 216 rooms, about 100 less than the previous hotel. It will be the first Four Seasons resort on Florida's Gulf Coast.
Naples Beach Hotel & Golf Club will finish its last season this year. The Southwest Florida resort will be ending a 75-year run when its doors close on May 23. The 125-acre property has been owned and operated by the Watkins family since the end of World War II.
The redevelopment, estimated to cost more than $1 billion, calls for the property to be transformed into a 125-acre resort and residential beachfront development called the Naples Beach Club. This new entity will include a hotel operated by the Four Seasons Hotels and Resorts and up to 185 luxury condominiums.
Naples Beach Hotel and Golf Club was built in the late 1920's and was redesigned by Mark Mahanna in 1948 and then subsequently redesigned three times between 1980-1998 by Ron Garl.