The 72-room Hampton Inn by Hilton in the Tampa, Fla.-submarket of Spring Hill (a submarket of Tampa) has sold for $9.4 million, or $130,555 per key. Florida-based hotel brokerage and advisory firm DSH Hotel Advisors represented both the seller, Kinnari, and the buyer, QDI 4, a QDI USA Developments Group company.
Dennis Hopper, managing principal of the firm, and Randy Taylor, SVP of investments, arranged the sale. "This Hampton Inn marks the third hotel that we've sold in Spring Hill, Fla. in the last 10 months,” Hopper said in a statement. “Marketing the Hampton Inn for sale really stirred up a ton of interest from our network of hotel investors throughout the country and internationally—as it was an opportunity to purchase a Hilton product in the Tampa area with healthy returns and potential for additional upside. Both buyer and seller of the Hampton were repeat clients for us.”
DSH Hotel Advisors held the exclusive listing with the seller, reportedly generating 216 signed confidentiality agreements and 18 offers from both domestic and international buyers.
The Hampton Inn by Hilton in Spring Hill is just east of Hernando Beach, a suburb of Tampa, and close to the growth taking place in the Tampa Bay Area. The hotel was recently renovated, having completed the Forever Young Initiative Interior/Exterior updates, as well as a new roof and updated flooring and lighting throughout.