The 325-room Westshore Grand hotel in Tampa has a new owner, and it’s one that already controls a chunk of the surrounding skyline. Ally Capital Group has acquired the property at 4860 West Kennedy Boulevard, with plans for an extensive renovation that will run in phases through 2027 and 2028.
The deal was announced per Tampa Bay Business and Wealth, which reported that Ally Capital Group partnered with Black Diamond Capital on both the acquisition and the planned renovations. The Westshore Grand operates under Marriott’s Tribute Portfolio brand and sits across from the 53-acre Westshore Plaza property, according to the same report. Built in 1984, the hotel has 14,321 square feet of meeting and event space, according to LCP Group.
Ally Capital Group has not disclosed the purchase price or the anticipated renovation budget, and the company has not announced a construction start date or identified a general contractor, the outlet’s report notes. It also hasn’t explained how the renovation work will affect day-to-day hotel operations. The company says it expects to share additional details about the project in the coming months, per the same account.
What’s Planned for the Renovation
The scope outlined so far covers a comprehensive guestroom renovation, upgrades to the meeting and event spaces, refreshed common areas and improvements to food and beverage offerings, according to the report. Valley National Bank is serving as the acquisition lender, while Preston Reid and Michael Britvan arranged the acquisition financing for Ally on behalf of Hodges Ward Elliott, a Franklin Street company, the outlet reported…