Hacienda Hotel in New Port Richey, Fla., to be redeveloped

A developer stepped up to spend millions in cash to redevelop the historic Hacienda Hotel in New Port Richey, Fla.

The New Port Richey City Council voted unanimously to enter into negotiations to solidify an offer by Yaakov and Abraham Rosner to redevelop the Hacienda into a 30-room boutique hotel within 18 months. The Rosners did not attend the meeting and could not be reached for comment.

Yaakov Rosner told the council two weeks ago that his Israel-based family foundation has $2 million in cash set aside for the project if the city agrees to move forward with his son, Abraham, who recently renovated a 100-room hotel in Yulee called Florida Hotel.

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The offer led the City Council to fast-track putting an item on the agenda Tuesday to begin negotiations as the city is facing the deterioration of a beloved landmark it has owned since 2004. At the time, flush with cash, New Port Richey eyed redeveloping the Hacienda, but the economic downturn crushed those hopes and the building has since sat empty.

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For the week of Sept. 6-12, occupancy reached 48.5 percent, down 1.6 percent from the previous week.

Tisch joined Loews Hotels & Co in June 2017 from Loews Corp., where he was a VP.