TAMPA—Waramaug LS Hotels, LLC, has acquired the Holiday Inn Express & Suites-Tampa-USF-Busch Gardens here.
The 123-key hotel is in close proximity to many of Tampa’s main demand drivers, including Busch Gardens and the University of South Florida. The property, which opened in 2008, will undergo a complete remodeling of the lobby and great room under the new ownership. Situated on 2.39 acres, the hotel includes 123 guestrooms, a host of amenities and 725 sq. ft. of meeting and event space.
“This particular property is located in an outstanding lodging market and we are pleased to add it to our portfolio. Tampa, in particular, has seen strong recovery in the last several years in the hospitality market and has forecasted RevPar growth by 7.1% in 2015 and 5.9% in 2016, according to PKF,” stated Craig Nussbaum, SVP, Waramaug LS Hotels. “We believe the hotel is poised to penetrate the market and create long-term value and profitability for us, while simultaneously growing its market share against its current competitive set.”
Adjacent to the property is Busch Gardens, a 335-acre African-themed animal theme park that attracts more than four million people each year.