Commercial real estate

Another 'B' in its bonnet?
In the wake of its nearly $33 million acquisition of the Sheraton Riverwalk Tampa last month, don't be surprised if buyer InSite Group rebrands the 277-room hotel under the B Hotels & Resorts flag.

It has happened before, with hotels InSite bought in Miami and Fort Lauderdale, where both companies share an office suite on 17th Street, according to state records. An InSite hospitality property in Savannah, Ga., also carries the “B” light-blue symbol.

In Fort Lauderdale, InSite's December 2014 purchase also involved a Sheraton. The 487-room Yankee Clipper Sheraton Fort Lauderdale Beach Hotel is undergoing a major renovation to guest rooms and common areas that will be completed next year.