The Hilton Tampa Downtown was sold in one of the largest hotel transactions in the history of Tampa Bay, Fla.
CrossHarbor Capital Partners closed this week on the sale of the 520-room, full-service hotel. The property, which is located in downtown Tampa, was sold for $101 million, the third-highest hotel sale in the city after the Tampa Marriott Waterside Resort & Marina ($199 million, sold October 2014) and the Hilton Clearwater Beach ($134 million, sold 2015).
“I think the Hilton transaction represents further evidence that Tampa is a high-profile institutional market that attracts substantial investor interest,” Daniel Peek, senior marketing director of HFF, said in a statement.
The hotel, which was built in 1982, was last sold in 2012 for $63 million. At the time of the sale, the hotel was converted from a Hyatt to a Hilton property. Today, the Hilton has a rooftop sun deck, fitness center, heated outdoor pool, a Starbucks and two restaurants, and is located near Tampa General Hospital, the cruise port and Amalie Arena.
Regarding the hotel’s future, Peek said there are no plans for future updates to since “it's a well-renovated hotel that's not necessarily in need of a lot of work.” Additionally, the hotel is planned to remain a Hilton.