Hotel firm buys popular resort for more than $80 million

TradeWinds Island Resorts has been sold to 1754 Properties Group.

By Business Observer Staff
| 12:15 p.m. October 22, 2019
| 0 Free Articles Remaining!

The TradeWinds Beach Resort in St. Pete Beach has been sold to a South Florida company. Courtesy photo.

Tampa Bay-Lakeland

ST. PETE BEACH — TradeWinds Island Resorts, a St. Pete Beach property that includes the 25.5-acre TradeWinds Island Grand hotel, 5.9-acre Rumfish Beach Resort by TradeWinds and Rumfish Grill restaurant, has been sold to 1754 Properties Group, a South Florida-based owner and operator of hotels and real estate in the United States and Mexico. The seller was St. Petersburg-based Fortune Hotels.

According to a press release, the acquisition closed Oct. 17. Joseph Smith, CEO and founder of 1754 Properties, confirmed in a text message to the Business Observer that the sale price was $81.4 million,