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Westin Tampa Waterside Hotel – Image Credit Marriott International
Rockpoint, a private equity firm specializing in real estate, and Newbond Holdings, a real estate investment and operating platform, have announced the acquisition of the Westin Tampa Waterside. The hotel is situated on a 1.5-acre property on Harbour Island, within the downtown Tampa waterfront community. The financial terms of the transaction were not disclosed.
The Westin Tampa Waterside is strategically located near key attractions and facilities, including the Tampa Convention Center, Water Street District, Sparkman Wharf, and the University of Tampa. It is also in proximity to the Tampa Riverwalk and a short drive from Tampa International Airport, Port Tampa Bay, and Raymond James Stadium.
The hotel features 309 guestrooms with views of downtown Tampa. Amenities include a fitness studio, a heated outdoor pool, dining and bar options, as well as meeting and event spaces. The new ownership plans to renovate the guest rooms, lobby, and meeting areas.
The acquisition is part of a broader strategy to capitalize on the Tampa market’s economic indicators and demand drivers, such as tourism, conventions, local employers, colleges, and sports venues. The market has limited new competitive supply, aligning with the investment strategies of Rockpoint and Newbond Holdings.
Rockpoint and Newbond Holdings have a history of collaboration, and this acquisition marks a continuation of their partnership.
