Plasencia Launches Regent Street to Market High-End Resort Properties

Regent Street is aiming directly at the high-end resort market and already has $700 million in assignments, Peek tells GlobeSt.com "We're not hitting the market cold," he says. Peek expects his team of four professionals to close on its first disposition over the next few weeks.

Although he acknowledges more established hospitality industry consultants may be vying for the same clients, Peek feels Regent Street will face little competition on its focused market.

"Four-star, five-star and distinctive hotels and resorts are high-value assets that often result in transactions that are quite complicated," he says. "Their owners demand a higher level of service. Regent Street will be unique in providing services to these owners with a meaningful focus on asset preservation and wealth enhancement."

A new market overview by Marcus & Millichap appears to support Plasencia's move in launching a new affiliate at this time. "With fresh perspective on the market, observers and investors alike are realizing that the market has turned a corner," says Richard A. Matthews, a senior analyst at Marcus & Millichap. "This has generated significant demand for the limited supply of available investment properties."

Matthews says the industry's fundamentals are firming up. "Most transactions are occurring on a pro forma basis," he notes. "While this scenario may give pause to some would-be purchasers, buyers are advised to consider the long-term potential of hospitality investment."

Matthews adds, "Travel and tourism will be a primary source of job creation over the foreseeable future, and most Americans are returning to normal travel patterns. Even international travelers are coming back into the fray."

Plasencia has been planning for Regent Street's debut over the past two to three years, Peek tells Globe St.com. "The planning became more aggressive in the last six months," he says.

Like Peek, Lou Plasencia, president and CEO of Plasencia Group, feels his company's new affiliate will be offering a special marketing concept in dealing with high-end properties. "Our clients told us they would welcome a new level of consultancy, combining national reach and proven systems with intensive, personalized service--and we have delivered," he says.