(Tampa, Florida): The recent closing of the 111 guest room Holiday Inn Hotel & Suites was handled by Scott Stephens, Principal and Peter Laack, Vice President in HREC Investment Advisor’s Tampa office.
Originally opened in 1970, the Holiday Inn Hotel & Suites currently maintains 111 guest rooms including 33 suites. Along with a 1,800 square foot meeting space, the property maintains a variety of other amenities such as an outdoor swimming pool, guest laundry, business center and a fitness center.
Strategically located along U.S. Highway 19 in Tarpon Springs, Florida, the Holiday Inn Hotel & Suites is easily accessible to the surrounding metropolitan area. In addition, this location is centralized and proximate to numerous demands generators and leisure attractions/opportunities include Stamas Yachts, Lockheed Martin, Nielsen Media Research, Home Shopping Network and Bay Pines VA Medical Center.
"The buyers plan some significant renovations to enhance the property and its financial performance. Furthermore, the new owners do plan to convert the property to a different franchise affiliation,” said Stephens.
About HREC: HREC is the nation’s leading lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals), asset management and litigation support. With thirteen offices throughout North America, HREC is distinguished by unwavering commitment to client service through its team approach, intellectual capital and hotel/casino specialization.
For additional information, visit HREC’s website at www.hrec.com