Nick and Terry Saban are part of an investor group that will become the new owners of Perdido Beach Resort in south Alabama.
Aurora Hospitality Partners, a hotel management company, announced the acquisition Tuesday and will now be in charge of running the resort.
The terms of the purchase were not disclosed.
Along with the legendary Alabama football coach and his wife, the investor group includes entrepreneur Joe Agresti, Perdido Hotel Partners LLC, an affiliate of Aurora Hospitality Partners, and several other small investors.
Agresti is Nick Saban’s partner in Dream Motor Group, which has nine vehicle dealerships in Alabama, Louisiana, Texas, Florida and Tennessee.
That endeavor began with a Mercedes-Benz dealership that opened in Irondale in 2018.
That group recently acquired Toyota of Montgomery and Lexus of Montgomery for $151 million.
“We could not be more honored to steward a place that means so much to so many families across our state,” Blair Plott, Co-Founder of Aurora Hospitality Partners, said.
“It means a great deal to us that Perdido Beach Resort will move forward under the leadership of Alabamians who believe in the future of this community. Our focus is to build on its legacy and elevate the guest experience in a way that reflects the very best of Alabama.”
Since opening in Orange Beach in 1987 Perdido Beach Resort has been a popular destination for vacations, conventions and other events for close to 40 decades.
“Southern Living” earlier this year called the resort one of the South’s best beach resorts.
Prior to the new acquisition the resort has only been owned by its developer, Jim Meadlock.
The property hosts 338 rooms, over 43,000 square feet of event space and four food and beverage outlets.
Aurora Hospitality Partners said that the resort will be closed the majority of December but new ownership will take over starting Dec. 30 when the property re-opens.