Virginia investor buys suburban Tampa hotel for $18.8M

A Richmond, Virginia, real estate investment trust has bought the Homewood Suites by Hilton Tampa-Brandon.

The REIT, Apple Hospitality, paid $18.8 million for the 126-room hotel at 10240 Palm River Road just off Interstate 75 and Falkenburg Road.

Apple already owns the Embassy Suites next door.

The Homewood Suites was previously owned by an Atlanta investor that paid $20.29 million for it in 2023.

Apple, in a statement announcing the deal, says the property had been offered up for sale by a loan servicer. (As of June 13, Hillsborough County court records showed no pending cases against the company.) Apple says it is planning to renovate the hotel, though it did not offer details of the work to be done.

With the purchase, Apple’s portfolio has 221 hotels with 29,893 rooms in 37 states and Washington, D.C. Of those, 23 are in Florida.