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New Sundial Beach Resort owner plans renovations

By Staff | Aug 3, 2012

JIM LINETTE Sundial Beach Resort on Middle Gulf Drive was recently sold for $2.3 million to CoreStates Capital Advisors with plans to undertake a multimillion-dollar renovation project.

Sanibel’s resort community stands to gain attention with substantial renovations being planned by the new owners of the Sundial Beach & Golf Resort.

CoreStates Capital Advisors LLC recently purchased the 407-unit Sundial resort from the Blackstone Group, which had owned the property since 2006. The purchase price was $2.3 million.

CoreStates hired CAM Hospitality Advisors & Management of Pittsburgh to plan and implement an extensive multimillion-dollar refurbishment of the gulf-front property with the renovations scheduled to start as soon as possible.

“We’ve been through the building and came up with a list that we believe are value purposes to bring the resort back to its original form,” said CAM president Chris Mannino. “We’re devising a modernization plan that will touch virtually all areas of the resort. We have an idea of the cost in mind, but we haven’t done any pricing.”

Renovations will include upgrades to the exterior of the buildings, landscaping, public spaces, food and beverage outlets, banquet facilities, pools and fitness center, lobby and front desk areas.

“The opportunity to acquire the beautifully located resort and realize its potential is exciting,” said William Spiropoulos, president and CEO of CoreStates. “We have assembled a strong team to lead the management and renovation and have confidence in the potential of a new Sundial Beach Resort.”

Sundial, originally built in 1972, is located on 8 1/2 acres on Middle Gulf Drive with 2,000 linear feet of beach and is expected to draw visitors interested in Captiva as well as Sanibel.

“We want to open it up to the public,” said Mannino. “Bring people in to the bar and restaurant for Sunday brunches, weddings, holiday brunches and other events and to use the many resort services.”

Accommodations range from studios to three-bedroom condos with views of gardens and the Gulf of Mexico. Pool improvements will add kid-friendly water features to the pool slide, one of five pools on the property. The resort also offers tennis courts and access to an 18-hole golf course.

“We’d like to get some of the renovations done by this next season,” said Mannino. “I’m not sure about the timing of it and we might have to make some presentations to the city.”

In addition, ownership is working with John Naumann, one of the original Sundial partners, to ensure a smooth transition on the island.

“The name Sundial will remain,” said Mannino. “We may add to it later, like if we add a spa, for example. We believe it is a good brand and want to keep that aspect.”