{"id":442706,"date":"2026-10-30T17:00:13","date_gmt":"2026-10-30T17:00:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-fl\/442706\/"},"modified":"2026-10-30T17:00:13","modified_gmt":"2026-10-30T17:00:13","slug":"westshore-grand-hotel-acquired-by-tampa-developer-major-renovations-planned","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-fl\/442706\/","title":{"rendered":"Westshore Grand Hotel Acquired by Tampa Developer, Major Renovations Planned"},"content":{"rendered":"

Tampa-based<\/a> Ally Capital Group has acquired the 325-room Westshore Grand hotel<\/a>, with plans for an extensive renovation of the property that will continue through 2028.<\/p>\n

The purchase expands the private equity<\/a> real estate<\/a> firm\u2019s holdings in Westshore, where it already owns the neighboring Urban Centre I and II office towers, acquired for $123 million in 2023<\/a>. Ally is partnering with Black Diamond Capital on the hotel acquisition and planned renovations, according to an announcement Thursday, Oct. 29.<\/p>\n

The Westshore Grand, a full-service hotel operating under Marriott\u2019s Tribute Portfolio brand, will undergo a comprehensive guestroom renovation, along with upgrades to meeting and event spaces, refreshed common areas and improvements to its food and beverage offerings. The work is scheduled in phases throughout 2027 and 2028.<\/p>\n

\"ExteriorAlly Capital Group acquired the 325-room Westshore Grand hotel, with major renovations planned through 2028.<\/p>\n

Andrew Wright, chief executive officer of Ally Capital Group, said, \u201cThe Westshore Grand has long been an important part of the Westshore community, and we\u2019re committed to restoring its role as a place where people come together.\u201d<\/p>\n

The company has not disclosed the purchase price or anticipated renovation budget, although it identified Valley National Bank as the acquisition lender, with Preston Reid and Michael Britvan of Hodges Ward Elliott, a Franklin Street company, arranging the financing on Ally\u2019s behalf.<\/p>\n

Wright, who also founded Tampa-based commercial real estate<\/a> firm Franklin Street, has overseen several other major commercial property investments across Tampa Bay, including a partnership with Banyan Street earlier this year to recapitalize downtown Tampa\u2019s 31-story Rivergate Tower<\/a>. The firms have planned approximately $8 million in improvements to the office building<\/a>. Ally also partnered with Paradise Ventures to acquire the Sundial shopping and dining complex in downtown St. Petersburg<\/a> in 2022, later pursuing a multimillion-dollar redevelopment of the property<\/a>.<\/p>\n

The Westshore Grand sits directly across from the 53-acre WestShore Plaza property<\/a>, where a proposed redevelopment<\/a> would replace the existing shopping mall with a mixed-use district. More than $5 billion in infrastructure, transportation and mixed-use investment is underway throughout Westshore, according to figures provided by Ally Capital, in a district employing approximately 100,000 people.<\/p>\n

Additional details about the hotel renovation are expected in the coming months, although Ally has not announced a construction start date, identified a general contractor or explained how the work will affect hotel operations.<\/p>\n

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