Hotel development and management company NexGen Hotels has acquired the Holiday Inn St Petersburg West in Florida, US.
Financial details of the deal were not disclosed.
The hotel will be managed by Genuine Hospitality Group, according to HotelBusiness.
Genuine Hospitality Group is based in St Louis, Missouri, and recently, reopened the renovated SpringHill Suites, Illinois.
NexGen Hotels president Chris Patel said: “This acquisition offers NexGen Hotels an excellent opportunity to become a key player in the strong hotel market in St Petersburg.”
Holiday Inn St Petersburg West has 129 guest rooms, has two meeting rooms and also provides catering and event planning services.
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Among the other amenities provided at the hotel include an outdoor resort-style, heated swimming pool and whirlpool spa, a fitness centre, a grab-and-go market, a full-service restaurant/bar, and free Wi-Fi.
The property is located three miles from downtown St Petersburg, near the University of South Florida – St. Petersburg Campus, Stetson University and St Petersburg College.
Guests at the property also have access to nearby locations such as Tropicana Field, the Dali Museum, Morean Arts Centre, and Al Lang Stadium, among others.
Based in Itasca, Illinois, NexGen Hotels is an independent owner, operator and third-party management company operating both select and full-service properties.
It has several hotels in its portfolio, including Hyatt Place, Four Points by Sheraton, Omaha, Nebraska; and more.
Last month, Florida saw real estate investment and management company Siegel Group acquiring the former Sunstyle Suites Inn.
This property was acquired for $10.3m in an off-market deal that closed within 30 days.