TAMPA, FL-Schaumburg, IL-based Shamrock-Hostmark Tampa Westshores Hotel LLC has acquired the 489-room DoubleTree Hotel Tampa Westshore Airport at 4500 West Cypress St. for more than $40 million. The hotel recently completed a $2-million renovation and the buyer plans to spend an additional $13 million in capital improvements to the property.
The seller was Encore Hospitality LLC, which was represented by Atlanta-based Hodges Ward Elliott, Inc. principal Mark Elliott and John Sonnier. The buyer, a wholly owned subsidiary of Shamrock-Hostmark Hotel Fund LP, will operate the hotel.
The hotel has 16,000 sf of meeting space, three restaurants and lounges, a 24-hour fitness center and guestrooms with balconies overlooking a tropical landscaped pool and spa. It is located near the Tampa International Airport, International Plaza and Westshore Malls. Nearby attractions include major league sports stadiums, Ybor City nightlife and Gulf of Mexico beaches.
This is the sixth acquisition by the Shamrock-Hostmark Hotel Fund LP, which is co-sponsored by Shamrock Holdings of California and Hostmark Hospitality Group. The fund, aimed at acquiring hotels with value-added opportunities, concluded on Sept. 20. Other acquisitions made under the fund include the 293-room Wyndham Boston-Andover in Andover, MA and the 198-room Embassy Suites Palm Desert in Palm Desert in Palm Desert, CA.
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