With hotel investors signaling a greater willingness to take on large deals again, a renovated luxury hotel on the Gulf Coast waterfront in Tampa is aiming to join the list of mega-deals in 2024.

The Grand Hyatt Tampa Bay, a 443-room luxury venue in the Westshore district, is on the selling block with a valuation of $220M, starting the bidding at $500K per key—which would be the most lucrative hotel deal ever in the Tampa market.

The owner, a partnership between Chicago-based GEM Realty Capital and Boca Raton-based IP Capital Partners, has tapped JLL to list the Grand Hyatt, according to a Green Street alert.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.