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Commercial Real Estate
Business Observer Friday, Sep. 14, 2018 4 years ago

Canadian company buys Westshore Embassy Suites hotel

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Westmont Hospitality invests $43 million into buying 243-room hospitality project
by: Kevin McQuaid Commercial Real Estate Editor

A Canadian company with U.S. offices in Houston and New York has acquired a 243-room Embassy Suites hotel in the Westshore section of Tampa, property records show.

Westmont Hospitality Group affiliate Westshore Hotel Owner LLC paid $42.88 million for the lodging property, which also contains roughly 9,000 square feet of meeting space.

The 16-story hotel, at 555 N. West Shore Blvd., had been owned since 2007 by an affiliate of Bre Select Hotels Corp., records indicate.

Westmont, which was founded in 1975 by the Mangalji family, generates roughly $700 million in annual revenue, according to company information.

It is considered among the largest Hilton and IHG Hotels franchisees in North America. The Embassy Suites Tampa Airport Westshore is a Hilton Hotels Corp. brand.

In all, the company either owns or operates in excess of 500 hotels worldwide, according to its website.

 

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