Clearwater Beach hotels sell to out-of-state investor

Shauna Muckle, Tampa Bay Times
Updated ·2 min read

Marriott’s AC and Courtyard hotels on Clearwater Beach have sold to a Denver-based hospitality company.

Mission Hill Hospitality closed on the sale of both hotels on June 28, according to deed records filed with Pinellas County. The 144-room AC Hotel fetched a sales price of $58.3 million, while the 139-room Courtyard Hotel was sold for $55.4 million.

Mission Hill purchased the properties from subsidiaries of Norwich Partners, a developer based in New England and Florida.

The three-star hotels are both located minutes from Clearwater Beach’s shore and are just 0.7 miles apart. Both opened recently — the 10-story AC Hotel launched in June 2022. It overlooks the Gulf Coast and Intracoastal Waterway and boasts amenities like an outdoor pool, a lounge and on-site breakfast, and a rooftop bar.

Meanwhile, the seven-story Courtyard Hotel opened in December 2021, according to a news release from Mission Hill. Key features include an on-site restaurant and rooftop bar, as well as 1,000 square feet of meeting space.

“This investment provided a great opportunity for us to expand our portfolio in Florida with two core-branded assets in a high-barrier market,” said Mike Wilbert, Mission Hill’s managing director, in the release. “These well-located, recently developed select service properties offer exceptional amenities. … Clearwater Beach and the surrounding market offer a variety of leisure demand drivers including renowned beaches, state parks, and world class snorkeling, drawing visitors nationally and internationally.”

Mission Hill has been expanding its Florida holdings. Already, the group owns three hotels in other parts of Florida: Hilton’s Inn of Naples, Tapestry Collection, a SpringHill Suites by Marriott in Navarre Beach and the Home2 Suites by Hilton near the Jacksonville International Airport. Their broader portfolio includes 31 hotels in the Southeast, New England, Colorado and the West Coast.