Host Hotels and Resorts buys the Don CeSar Hotel in St. Pete Beach, Fla.

The Loews Don CeSar Hotel in St. Pete Beach, Fla., now has a new owner. Host Hotels and Resorts purchased the 277-room hotel from Prudential Insurance, ending Prudential's 12-year ownership of the property. 

Before the acquisition, Loews Hotels & Resorts managed the property and owned 20 percent of the site, but as its new owners Host is handing off operations to Davidson Hotels & Resorts.

Nicknamed the Pink Palace after its exterior color scheme, the hotel was built in 1928 and at one time served as an army hospital in the 1940s before being transformed into an office for Veterans Administration. 

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Loews Hotels and Prudential Insurance acquired the property in 2003, and last year the hotel was the recipient of $10 million in upgrades, including the addition of a new restaurant and bar. As part of the investment, Loews and Prudential also updated a nearby 70-room property, the Beach House Suites, which was formerly known as the Wander Club Residence before it was bought by the Don CeSar hotel and renamed in 1997.

The property has two heated pools, a fitness center, business center, 38,000 square feet of meeting and event space and an 11,000-square-foot spa. For dining, guests can access the Maritana Grille. The property was also the recipient of the 2015 Historic Hotels of America Award of Excellence. 

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