Tampa doctor buys downtown Sarasota Hyatt

A group led by Dr. Kiran Patel of Tampa acquired the 294-room Hyatt Regency hotel in downtown Sarasota earlier this week, the latest in a string of major hospitality deals this year along the Gulf Coast.

Although Sarasota Hotel Acquisition Group LLC's purchase was recorded at $57.8 million, that amount likely did not factor in furniture, fixtures and equipment, accumulated goodwill, operational supplies and alike.

In all, the full transaction price is believed to be closer to $75 million.