The Plasencia Group has advised on the sale of the Residence Inn Tampa Westshore Airport hotel, centrally located within Tampa’s Westshore Business District.
Tampa, Fla. (January 8, 2024) –The Plasencia Group, the boutique hospitality real estate advisory firm located in Tampa, Florida, is pleased to announce that it has represented the seller in the sale of the Residence Inn Tampa Westshore/Airport. The 160-key asset is located in the heart of the Westshore Business District, Florida’s largest concentration of office space and the most significant employment center on the state’s West Coast. The transaction was handled by a team of The Plasencia Group’s professionals, including Senior Managing Director Dexter Wood; Managing Directors Chris Plasencia, Nick Plasencia, and John Plasencia; and Vice President Andrew Pappas.
Opened in 2001, the Residence Inn offers excellent access to the primary thoroughfare traversing the Westshore Business District. It is surrounded by a bevy of thriving demand generators, including Tampa International Airport, the International Plaza & Bay Street retail district, Raymond James Stadium (home of the Buccaneers), Steinbrenner Field (Spring home of the New York Yankees), and a host of restaurants and Class-A office complexes, many of which are in walking distance. The hotel benefits from its leading extended-stay brand position within Marriott International’s family of brands and attracts an ideal mix of corporate and leisure transient business.
“Tampa’s lodging market has continued to stand out nationally for its strong performance and durable demand,” commented Senior Managing Director Dexter Wood.
“The Residence Inn plays a vital role in Westshore’s hospitality sector, and we’re excited to have a front-row seat for the asset’s next chapter,” added Managing Director Nick Plasencia.
The Plasencia Group has successfully facilitated dispositions of more than 100 Marriott-branded hotel and resort assets nationwide and, separately, over 100 properties in the State of Florida alone, since it was founded in 1993. The sale of the Residence Inn Tampa Westshore Airport continues The Plasencia Group’s stellar track record on behalf of its clients in the face of today’s ever-changing market conditions.