November 12, 2019
Philadelphia-based Hersha Hospitality Management has acquired the Homewood Suites by Hilton St. Petersburg Clearwater in Tampa for an undisclosed price. Investment advisory firm Hunter Hotel Advisors arranged the sale on behalf of the undisclosed seller.
The hotel is adjacent to the Carillon Office Park, home to Raymond James, Franklin Templeton Investments, and many other large employers. Hersha Hospitality Management operates high-quality, upscale, luxury and lifestyle hotels in urban gateway markets and resort destinations. The Homewood Suites increases HHM’s Florida portfolio to 10 hotels, including two under development.
“This is a well-branded property acquired below replacement cost,” said Trey Scott, senior vice president at Hunter Hotel Advisors. “The St. Petersburg-Clearwater-Tampa region is one of the fastest growing regions in the country, and has emerged with a growing business base and appeal to young professionals.”
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