Kolter to buy aging hotel in downtown St. Petersburg
By Ashley Gurbal Kritzer and Emma Behrmann
Tampa Bay Business Journal
Published: Feb 25, 2026

St. Petersburg's most prolific condominium developer is closing in on an aging downtown hotel.

An entity linked to The Kolter Group plans to pay $96 million in cash for the Hilton St. Petersburg Bayfront, according to a regulatory filing from the hotel's current owner, Dallas-based Ashford Hospitality Trust Inc. The sale is expected to close in the first quarter, Ashford said.

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