ATLANTA—Hunter Hotel Advisors’ Miami office has represented a Florida-based development company in the sale of a Staybridge Suites in St. Petersburg, FL, for an undisclosed amount.
The IHG-branded asset was purchased by Procaccianti Companies and will be operated by its hospitality management company, TPG Hotels & Resorts. The new owners were attracted to the 119-room hotel built in 2014 for its strong cash flow and location in Tampa’s high-growth market, according to the company.
Robert Taylor, SVP at Hunter’s Miami office advised on the transaction. Other recent Florida transactions include the sale of the Hampton Inn Busch Gardens, Hyatt Place Sarasota, SpringHill Suites Clearwater, Hampton Inn Melbourne, Holiday Inn Express Jacksonville and the Holiday Inn University Pensacola.