Courtyard by Marriott Tampa Downtown — Sale in Tampa, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Hospitality Business
  • Location: Tampa, FL 33602
  • Year built: 1998

Photos

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Description

JLL’s Hotels & Hospitality Group, as sole and exclusive agent for the owner, has been retained to offer for sale the fee simple interest in the 141-key Courtyard Tampa Downtown (the “Hotel” or “Property”). Downtown Tampa Demand is delivered through a diverse array of corporate, government, hospital, and leisure drivers, including the Tampa Convention Center, the vibrant Channel District, Port Tampa Bay, USF Health College of Medicine, and both an NFL and NHL stadium capable of housing large events. Despite historically underpenetrating its competitive set, the Property delivers exceptional in-place cash flow and with repositioning the Hotel, it should allow for a new owner to increase cash flow substantially. There is considerable upside potential to drive additional revenue through strategic room renovations, new management tactics, and continued market growth. With the full strength of Marriott’s global distribution platform in Tampa’s dynamic and supply-constrained downtown lodging market, and ongoing downtown development and tourism expansion, the Property should continue to grow revenues and once the renovation has been completed expect to increase market penetration significantly. This marks a rate opportunity to acquire a core-branded, institutional quality hotel, that is unencumbered by debt and management, in an A+ location with significant upside potential through various levers and tremendous market growth.

Market Context

This hospitality in Tampa, FL is listed for sale. The building dates to 1998. Compare it against other hospitality listings for sale in Tampa, FL — view the full market.

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