Hospitality Funding Acted as Advisor for the Acquisition of Holiday Inn Express & Suites Busch Gardens in Tampa, FL
Palm Beach, FL — Hospitality Funding announced today the role of advisor in the acquisition of the Holiday Inn Express & Suites-Tampa-USF-Busch Gardens in Tampa by Waramaug LS Hotels, LLC, a private investment group. The 123-key hotel is in a prime location off of I-275 and is in close proximity to many of Tampa’s main demand drivers, includes 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 boasts 123 guestrooms, a host of amenities, and 725 square feet of meeting and event space.
Of the landmark acquisition, Hospitality Funding’s Chairman, Scott Silver said, “We are excited to continue our successful partnership with Waramaug LS Hotels and are particularly pleased to be able to facilitate the purchase of such an outstanding property.”
Adjacent to the property is Busch Gardens, a 335-acre African-themed animal theme park that attracts over 4 million people each year, ranking it among the top 30 most-visited theme parks worldwide. There is a prominent healthcare cluster less than three miles north of the Hotel that includes Moffitt Cancer Center, Shriners Hospitals for Children, and James A. Haley Veterans’ Hospital, among others. Moffitt Cancer Center is the #1 Cancer Center in the Southeast according to US News & World Report, employs over 4,300 people, and generates over $1.8 billion in direct economic output. Less than two miles north of the Property is the University of South Florida. With an enrollment of nearly 48,000 students, USF is one of the largest universities in the United States.
About Hospitality Funding: Hospitality Funding is a boutique investment advisory firm focused on raising equity, mezzanine, and debt financing for the acquisition of all types of hospitality assets. Hospitality Funding works with superior owners to find capital solutions that fit their specific goal for property acquisition, development and refinance. For more information, please visit www.hospitalityfunding.com.
About Waramaug Hospitality Canada LLC: Waramaug Hospitality Canada LLC is a joint venture between the founding principal of Waramaug Hospitality and Hospitality Funding focused on growing brands throughout Canada. The company utilizes their wealth of industry knowledge and key leaders to create a track record of successfully expanding into new territories as well as repositioning and renovating assets to reach their full potential and become market leaders.