🏢 Company

Kolter Group

📍 Miami, Florida
2 stories · First covered Mar 21, 2026 · Latest Mar 23
Related: Ashford Hospitality Trust 2 RevPAR 1 Hilton 1 Property Improvement Plan (PIP) 1 Hilton Worldwide 1 Per-key valuation 1 Hotel-to-residential conversion 1 Hilton St. Petersburg Bayfront 1 St. Petersburg hotel market 1 Hilton Bayfront St. Pete 1 Saltaire 1 Tampa-St. Pete hotel market 1
Hilton Bayfront St. Pete
Saltaire
Hilton St. Petersburg Bayfront
Kolter Group Coverage
Hilton Bayfront St. Pete Sells for $288K Per Key. The Buyer Isn't Keeping the Hotel.
Transactions Primary
Mar 23

Hilton Bayfront St. Pete Sells for $288K Per Key. The Buyer Isn't Keeping the Hotel.

Kolter Group is paying $96 million for a 333-room Hilton in downtown St. Petersburg, and the per-key math only makes sense if you stop thinking about it as a hotel transaction. This is a land play dressed in a room key, and it tells you something uncomfortable about where real estate value is heading in coastal Florida markets.

JC
Jordan Chen 2 min read · Mar 23
A Developer Just Paid $96M for a Hotel They're Almost Certainly Going to Demolish
Transactions Primary
Mar 21

A Developer Just Paid $96M for a Hotel They're Almost Certainly Going to Demolish

Kolter Group is buying the 333-key Hilton St. Petersburg Bayfront from Ashford Hospitality Trust. They're not buying a hotel. They're buying three acres of waterfront dirt with high-density zoning and a 54-year-old building standing in the way.

MS
Mike Storm 3 min read · Mar 21