The deal with the undisclosed buyer for the 293-room Renaissance Tampa International hotel calculates out to approximately $232,000 per key. The deal with the undisclosed buyer for the 293-room Renaissance Tampa International hotel calculates out to approximately $232,000 per key.

TAMPA, FL—Braemar Hotels & Resorts Inc. reports it has reached a definitive agreement to sell its Renaissance Tampa International Hotel here for $68 million.

The deal with the undisclosed buyer for the 293-room hotel calculates out to approximately $232,000 per key. The sales price represents a trailing 12-month cap rate of 8.2% on net operating income as of March 31, 2018. Dallas-based Braemar, formerly operated as Ashford Hospitality Prime, says the sale is part of the company’s ongoing effort to dispose of non-core hotels. The firm announced that initiative back in 2017.


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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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