Who bought the Hampton Inn Tampa East hotel?
KMD HOSPITALITY MANAGEMENT recently acquired the 74-room Hampton Inn Tampa East in Tampa, Florida, from Liberty Group. Berkadia Hotel & Hospitality, which announced the sale, did not disclose the price, but Hillsborough County records list it at $9.65 million, according to Business Observer.
Tampa-based KMD Hospitality, founded in 1997, is led by Manny Patel as president and CEO. Liberty Group, also based in Tampa and founded by Raxit Shah more than four decades ago, is led by Punit Shah as chief executive.
The property, built in 2005, was renovated in 2023. The hotel, near Tampa Gateway Blvd. and the Seminole Hard Rock Hotel & Casino, provides access to Downtown Tampa, the cruise port, leisure venues and office and industrial space.
Liberty Group paid $4.25 million for the property in 2012, the Observer reported, citing county records.
Kyle Sahlsten, associate director at Berkadia, represented Liberty in the sale.
“The Tampa East submarket and greater Tampa market remain extremely liquid and are generating significant investor interest,” said Sahlsten. “Zooming out, the entire I-4 corridor has garnered national interest in the wake of population and job growth, major corporate relocations, and billions in private and public investment, which has led to sustained RevPAR growth. Rising PIP and construction costs are at the top of investors' minds, and this being a fully renovated, turn-key opportunity contributed to the success of this sale.”
KMD began operations with the purchase of a Days Inn and has developed, bought and managed limited- and full-service hotels, according to its website. Its portfolio shows it currently operates five properties in the Tampa Bay region: a Quality Inn and a Hampton Inn in Zephyrhills; a Residence Inn and Courtyard by Marriott in Oldsmar; and a Country Inn & Suites by Radisson in Brandon.
Chris Patel-led NexGen Hotels recently acquired the 165-room Claridge House Chicago in the Gold Coast Historic District and will rebrand it this summer under Hilton’s Tapestry Collection.
