Clearwater Beach hotel with apartment-style suites has a new owner
By Breanne Williams
Tampa Bay Business Journal
Published: Jun 21, 2022

The Coconut Cove All-Suite Hotel on Clearwater Beach has sold to a Delray Beach property management company for $11.8 million.

The 42-key hotel at 678 S. Gulfview Blvd. is on the southern end of Clearwater Beach and was built in 1982. The sale price breaks down to approximately $280,952 per key.

According to a deed filed in Pinellas County, the hotel was sold by Seminole-based Page Development Group, a family-owned company that specializes in waterfront condominium, hotel and resort projects, to Delray Beach-based Ocean Properties Ltd.

Ocean Properties is one of the largest privately held hotel management and development firms in the country. Local hotels in their portfolio include Treasure Island Beach Resort, Springhill Suites Tampa Westshore Airport and Residence Inn St. Petersburg Treasure Island.

The hotel features condo-style units with full kitchens and a lagoon-style pool. It is across the street from 301 Island Key and the Hampton Inn & Suites Clearwater Beach.

Several Clearwater hotels have changed hands recently as tourism continues to break records in Tampa Bay. A deed filed in the county shows on June 3 the Terrace Garden Inn sold for $7.7 million, which breaks down to $65,254 a key. The Howard Johnson by Wyndham Clearwater sold on May 12 for $5.5 million, which breaks down to $77,333 per key.