The Renaissance Vinoy Resort & Golf Club, a AAA Four Diamond resort on St. Petersburg's waterfront, has a new owner but will remain under the Marriott International flag. The deal was completed Dec. 14 and announced late Thursday.

FelCor Lodging Trust of Irving, Texas, paid $225 million for the 361-room Vinoy and the 560-room Renaissance Esmeralda Resort & Spa in Indian Wells, Calif. The properties were purchased from entities owned by affiliates of Walton Street Capital, Rockpoint Group and SCS Advisors.

"We had a great owner for two and a half years with Walton Street Capital and now we have a long-term owner in FelCor that wants to be here for the long haul," Vinoy general manager Russ Bond said. "All of us here are fine. We work for Marriott, and our management agreement stays intact."

The landmark hotel from the 1920s and its marina recently had a $3.5 million renovation, which took a year and a half. There also was a makeover of two Presidential Suites, the historic Plaza Ballroom and meeting rooms. The lobby was redecorated with a history gallery that will be part of guided tours. The Lobby Promenade Lounge was reconfigured, and the entrance to Marchand's Bar & Grill was redesigned.