Crowne Plaza Tampa acquired

TAMPA -- Interstate Hotels & Resorts Inc. acquired the Crowne Plaza Tampa East through a joint venture with Waramaug Hospitality LLC and a private investment group for an undisclosed price.

Interstate says it will invest $8.5 million towards a “comprehensive renovation” as soon as the deal closes.

“The hotel's location, adjacent to a thriving business park and close to a number of leisure demand generators, greatly enhance the long-term potential of this investment,” says Jim Abrahamson, COO with Interstate, in a statement.