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.

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