Gencom-Led Venture Acquires Two Resort Hotels Near Tampa for $100M
ST. PETE BEACH, FLA. — A venture led by Gencom has purchased the Grand Plaza Hotel and the Beachcomber Beach Resort and Hotel for $100 million. The hotels are located a quarter-mile apart from each other in St. Pete Beach, a barrier island on the Gulf of Mexico southwest of Tampa.
Situated on 3.7 acres at 5250 Gulf Blvd., the 156-room Grand Plaza Resort opened in 1975 as a Hilton hotel and was most recently renovated between 2014 and 2016. The hotel is home to Spinners Rooftop Revolving Bistro & Lounge, the state of Florida’s only revolving rooftop restaurant. Other restaurants at the property include Bongos Beach Bar & Grille, Level 11 Rooftop Lounge and The Palm Room Restaurant.
Additional hotel features for the Grand Plaza Resort include direct beach access, beach cabanas, private balconies, water sports rentals, 8,000 square feet of meeting space, a fitness center, swimming pool and business center.
The Beachcomber Beach Resort and Hotel is a 102-room beachfront property situated on 6.2 acres at 6200 Gulf Blvd. Restaurants include Jimmy B’s Beach Bar and Grill and Players Sports Bar and Grill. Additional amenities include two outdoor swimming pools, a business center and a central courtyard.
Daniel Peek, Preston Reid and Wyatt Krapf of HFF represented the seller, Excel Hospitality Inc. Benchmark, a global hospitality company, will manage the assets.
— Kristin Hiller