Mission Hill Hospitality has acquired two select-service Marriott hotels in Clearwater Beach, Fla.—the 144-key AC Hotel Clearwater Beach and the 139-key Courtyard Clearwater Beach. Terms are undisclosed but according to the Tampa Bay Business Journal, the cost was $113.7 million for the two properties.
According to the St. Pete Catalyst, Sanibel, Fla.-based NPCW LLC, controlled by Norwich Partners, sold the 97,777-square-foot AC by Marriott hotel in a $58.3 million deal. The group sold the 115,313-square-foot Courtyard by Marriott hotel in a $55.4 million transaction.
These are the 30th and 31st properties added to the Mission Hill Hospitality portfolio since the company launched in March 2021. The assets also are Mission Hill’s fourth and fifth acquisitions in Florida, following the Inn of Naples - Tapestry Collection by Hilton, the SpringHill Suites by Marriott Navarre Beach and the Home2 Suites by Hilton Jacksonville Airport.
“This investment provided a great opportunity for us to expand our portfolio in Florida with two core-branded assets in a high-barrier market,” Mission Hill Hospitality Managing Director Mike Wilbert said in a statement. “These well-located, recently developed select service properties offer exceptional amenities including rooftop restaurants, elevated pool decks, and a marina. Clearwater Beach and the surrounding market offer a variety of leisure demand drivers including renowned beaches, state parks, and world class snorkeling, drawing visitors nationally and internationally.”
The AC Hotel, which opened in June 2022, is one of Clearwater Beach's newest hotels. The hotel has 10th-floor views over the Gulf of Mexico and the Intracoastal Waterway. Public spaces at the hotel include a fitness center, an outdoor swimming pool, a pool deck bar, AC Kitchen and lounge and a rooftop bar.
The Courtyard, located a few blocks north of the AC Hotel, opened in December 2021 and has seven floors of guestrooms. The Courtyard, which includes an adjacent 50-slip marina, is close to Clearwater Beach and Pier 60, with an 1,100-foot fishing pier and a recreational park with telescopes and covered pavilions. The hotel amenities include as a fitness center, an outdoor swimming pool with elevated pool deck, rooftop bar, on-site restaurant and 1,000 square feet of meeting/event space.