Westin Tampa Bay on Rocky Point sells to Boston firm
By Ashley Gurbal Kritzer
Tampa Bay Business Journal
Published: Jun 5, 2023

The Westin Tampa Bay, a hotel on the Rocky Point waterfront, has sold to Boston-based Pyramid Global Hospitality.

The sales price was recorded in Hillsborough County property records as $45.36 million. Public records usually do not reflect the entire sales price in a hotel transaction, as property records do not include furniture, fixtures and equipment.

When the seller, Nashville-based Castlerock Asset Management, bought the hotel in 2019, the sale price was recorded as $57.6 million. The 16-story, 252-room Westin opened in 2009 and is a AAA Four Diamond property.

The Plasencia Group represented Castlerock in the sale. Managing directors Nick and Chris Plasencia handled the transaction.

“High-quality waterfront hotels such as the Westin Tampa Bay, with exposure to leisure, corporate, and group demand, are poised to outperform. We’re excited to see what the purchaser has in store for the hotel,” Chris Plasencia said in a statement.

The Plasencia Group was also involved in the 2019 sale of the Westin to Castlerock.