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MeriStar Hospitality Sells Safety Harbor Resort and Spa on Tampa Bay.

Publication: Business Wire
Publication Date: 22-DEC-04
Format: Online - approximately 585 words
Delivery: Immediate Online Access

Article Excerpt
ARLINGTON, Va. -- MeriStar Hospitality Corporation (NYSE: MHX), one of the nation's largest hotel real estate investment trusts (REIT), today announced that it has sold the 189-room Safety Harbor Resort and Spa to S.H.S. Resort, LLC, an affiliate of Olympia Development Group, a well-regarded condominium developer, for more than $125,000 per key. The 26-acre resort is located on Tampa Bay in Florida and is approximately 15 minutes from Tampa International Airport.

"This is an excellent property with interesting redevelopment potential," said Paul W. Whetsell, chairman and...

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