NexGen Hotel Acquires Holiday Inn St. Petersburg West In $18.75M Deal

NexGen Hotel, based in Schaumburg, Illinois, has purchased the 129-room Holiday Inn St. Petersburg West in Florida for $18.75 million. The hotel is located at 1200 34th Street North and is known for its amenities including an outdoor heated pool, fitness center, and full-service restaurant. The property was sold on November 28, 2023, in the St. Petersburg market.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $18,750,000
• Address: 1200 34th Street North - The Holiday Inn
• Market: St. Petersburg

Chris Patel from NexGen Hotel represented the buyer in this transaction. The financing for the purchase was provided by OptimumBank for a total amount of $12,915,000. Genuine Hospitality Group of St. Louis will manage the hotel post-acquisition.