Blackstone has purchased the Hyatt Regency Clearwater Beach Resort and Spa for $137 million, according to a report from the Tampa Bay Business Journal citing Pinellas County, Fla., property records. The 286-room property was sold by Westmont Hospitality Group. Other terms were not disclosed.
Bloomberg has been reporting for several weeks that the sale was imminent. Westmont paid about $121 million for the beachfront property in 2016.
Last month, Hyatt Hotels sold the 1,641-room Hyatt Regency Orlando and adjacent 45 acres of land to affiliates of RIDA Development and an Ares Management Real Estate fund.