Ocala investors buy Towne Place Suites in Clearwater for $7 million

Published Jun. 28, 2018

CLEARWATER — The Towne Place Suites by Marriott St. Petersburg-Clearwater has sold to a new owner for $7 million.

The 95-room hotel is located on 13200 49th Street N. Broker Bryan Gipson with HTL Hospitality Advisors secured the buy. It was purchased by Clearwater Hotel Investment Group, an LLC based in Ocala.

The same group also runs the Hotel Development & Management group, which owns a handful of other chain hotel brands across the state.

Gipson said the new owners plan to renovate the hotel under the Towne Place brand's latest standards.

MORE: Go here for more Business News