Tampa Bay Times
The Loews Don CeSar Hotel sold to Host Hotels & Resort
The Pink Palace on St. Pete Beach has a new owner. The Loews Don CeSar Hotel was purchased by Host Hotels & Resorts and will be managed by Davidson Hotels & Resorts, according to a Loews spokeswoman. Prudential Insurance has been the majority owner of the historic 277-room hotel on St. Pete Beach for more than 12 years, and Loews Hotels managed the property and owned a 20 percent stake.
Host Hotels & Resorts is a Fortune 500 company and one of the largest lodging real estate investment firms and owners of luxury and upscale hotels in the country. Host owns 89 properties in the United States, including the YVE Hotel in Miami, Orlando World Center Marriott and the Ritz-Carlton resorts in Amelia Island and Naples. Host also owns seven international hotels, with a total portfolio reaching 54,000 hotel rooms.
Davidson Hotels & Resorts manages 43 hotels totaling nearly 13,000 rooms and 1.4 million square feet of meeting space across the U.S. The company manages the Hilton Key Largo Resort and Hotel Colonnade Coral Gables in Florida. The Loews Don CeSar will be the first Tampa Bay area hotel opportunity for both hotelier companies.