Real estate giant Black Stone (BX) is buying a beach house Hyatt Resort in Clearwater, Florida, near Tampa, for about $200 million, Bloomberg reported.
Location 301 South Gulfview BoulevardThe Hyatt Regency Clearwater Beach Resort and Spa has 286 rooms and around 1,858 square meters of indoor and outdoor event space.
The current owner, Westmont Hospitality Group, bought the complex in 2016 for $121 million.
The acquisition by Blackstone is not yet complete and terms could still change, Bloomberg reports, citing anonymous sources. A representative for Blackstone declined to comment, while a Westmont spokesman did not immediately respond to a request for comment from CO.
Blackstone has stayed in the Florida hotel market after spending eased to recoup the pandemic. In April, Blackstone opened a hotel across the state in Fort Lauderdale bought the city B Hotel, a 346-room property, for $98 million. Later that month, the private equity giant closed a Refinancing package of $429 million for a portfolio of 23 hotels, almost 15 percent of which are in Florida.
If the Clearwater sale is completed, it would be another major sale for a Hyatt-branded hotel in the Sunshine State. Earlier this month, the Chicago-based hotel operator sold the Hyatt Regency Orlandoa resort with 1,641 rooms, for $1 billion RIDA Development Company And Ares Management Real Estate.
Julia Echikson can be reached at [email protected].
