South Seas Resort is a prominent vacation destination in Captiva Island, Florida, renowned for its luxurious amenities, picturesque beaches, and stunning views. With its reputation as one of the most sought-after vacation spots in the area, many people wonder who owns the resort.
South Seas Resort is currently owned by a company called Legendary Inc. The company bought the resort from Westin Hotels and Resorts in 2010 for an undisclosed amount of money. Legendary Inc. is a private equity firm that specializes in owning and managing luxury properties across North America.
The resort was originally built by Jim and Leonie Newton in 1946 as a small fishing camp with just four cottages. Over the years, it grew into a sprawling resort with over 400 acres of land, several pools, restaurants, and amenities like golf courses and tennis courts.
In 1960, the Newtons sold South Seas to Chico’s founder Marvin Gralnick for $1 million. Gralnick invested heavily in expanding the resort’s facilities and adding more accommodations to cater to increasing demand from tourists.
In 1992, South Seas was bought by Intercontinental Hotels Corporation (IHG) for $76 million. IHG invested further in modernizing the property and upgrading its facilities to keep up with changing times.
However, after several years of ownership, IHG decided to sell South Seas Resort to Starwood Capital Group in 2005 for $33 million. Starwood continued to invest heavily in renovating the property and improving its amenities before ultimately selling it to Legendary Inc.
Today, South Seas Resort remains one of Captiva Island’s most popular vacation destinations with visitors flocking from all over North America to enjoy its pristine beaches and world-class facilities.
In conclusion, Legendary Inc. currently owns South Seas Resort on Captiva Island after purchasing it from Westin Hotels and Resorts back in 2010. However, before that purchase occurred there were numerous owners over the years that helped to build the resort into what it is today.