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Spartanburg,
SC – July 2022 / Newsmaker Alert: South
Carolina-based OTO Development,
which is part of The Johnson Group, acquired DoubleTree
Beach Resort by Hilton Tampa Bay-North Redington Beach from the property’s
original private ownership group. The transaction, brokered by The
Plasencia Group, closed on Monday, July 18.
“We
are so intrigued by this DoubleTree, which has long been loved for its
ideal location and resort-style amenities,” says Corry
Oakes, CEO of OTO Development. “There’s incredible opportunity in combining
an individual hotel’s attributes with our company’s scaled operational
efficiencies.”
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Built
in 1987, the 7-story, 125-room hotel was constructed to maximize frontage
along the Gulf of Mexico. The majority of guest rooms have balconies overlooking
the beach — just 150 feet away from the water — and many rooms on the non-Gulf
side enjoy water views of Boca Ciega Bay. An oceanfront restaurant extends
onto an expansive veranda and out to a festive tiki hut, which is adjacent
to an outdoor pool. Also facing the Gulf is a 1,272-square-foot meeting
room that can accommodate up to 125 people.
“North
Redington Beach is nestled mid-way between St. Pete Beach and Clearwater
Beach — the No. 1 and No. 18 most popular beaches in the United States,
per Tripadvisor,” Oakes says. “This well-positioned DoubleTree provides
a full-service option for travelers who want a relaxing Gulf Coast getaway.”
Upon
swap of keys, OTO will immediately implement scaled efficiencies in operations,
revenue management and marketing support. An extensive renovation, planned
to begin late summer 2023, will comprise a total refresh in all common
spaces; aesthetic updates and bath upgrades in guest rooms; and enhancements
to the exterior. The hotel will remain open during renovations and, upon
completion, will continue under the DoubleTree by Hilton flag.
DoubleTree
in North Redington Beach is the 10th oceanfront property OTO has purchased
since Q4 2018 and one of seven along the coastlines of Florida. In addition
to this latest acquisition, the company’s on-the-sand portfolio includes
hotels in Key West, Marathon, Panama City Beach, St. Pete Beach, Fort Walton
Beach and Cocoa Beach, Florida; Myrtle Beach, South Carolina; Wrightsville
Beach, North Carolina; and Ocean City, Maryland. OTO’s new Hyatt Place
in Panama City Beach is opening soon; other leisure developments and acquisitions
are in the pipeline.
Find
DoubleTree Beach Resort Tampa Bay-North Redington Beach at 17120 Gulf Blvd.
in North Redington Beach, Florida. For information and reservations, call
727-391-4000 or visit DoubleTreeBeachResort.com.
Connect with the hotel on Facebook @DoubleTreeBeachResortByHilton
and Instagram @DoubleTreeBeachResort.
About
OTO Development
OTO
Development, part of The Johnson Group, is an award-winning, fast-growing
hotel development and hospitality management company. Founded in 2004 and
partnering with the Hilton, Hyatt, IHG and Marriott brands, OTO’s industry
leadership position is anchored by a portfolio of excellent hotels staffed
by exceptional people. The company currently owns and/or operates ~65 hotels
comprising approximately 9,600 room keys. OTO’s growth is focused on developing
new hotels in high-barrier-to-entry markets; purchasing and repurposing
existing hotel properties; and expanding management contracts with clients
ranging from publicly traded REITs to private equity firms to high-net-worth
individuals. For more information, visit OTODevelopment.com.
Media
Contact:
Diane
Jackson
Director
of Public Relations
&
Corporate Communications
OTO
Development
864-327-6274
Website
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