Upscale 259-Room Tampa Sheraton Comes Under New Ownership

A joint venture consisting of Square Mile Capital Management L.L.C. and Davidson Hotel Co. has acquired the 259-room Sheraton Suites Tampa Airport/Westshore. Host Realty Partnership L.P. sold the Tampa, Fla.-property just two years after having acquired it as part of a $4 billion, 35-hotel portfolio acquisition from Starwood Hotels and Resorts in April 2005.Carrying the address of 4400 W. Cypress St., Sheraton Tampa sits within close proximity to Tampa International Airport, as well as such area destinations as Busch Gardens and Raymond James Stadium. In addition to its luxury suites, features 8,100 square feet of office space, a restaurant, a fitness center and a business center. The new owners will subject the hotel to comprehensive $14 million upgrade, scheduled to commence next year. Davidson will oversee the renovation process, and will ultimately mange the hotel.