Barings Eyes Sale of Marco Island Resort for Nearly $1 Billion Amid Reviving Hotel Market

Barings, the $456 billion asset management arm of MassMutual, is exploring the sale of the JW Marriott Marco Island resort on Florida's Gulf Coast. The luxury hotel, with over 800 rooms, is expected to be valued at nearly $1 billion. Barings is working with Jones Lang LaSalle to solicit interest in the hotel, which was expanded in recent years and features over 100,000 square feet of event space, three miles of private beach, and two 18-hole golf courses. Hotel transactions have shown signs of awakening in recent months, with investors gaining confidence in luxury bookings and lower interest rates.