Downtown Tampa’s 212-room Floridan Palace Hotel has been purchased by 1754 Properties LLC, which closed the deal yesterday.
Terms of the deal are not being disclosed by 1754—which has offices in Weston, Florida and Mexico City—but a press release says that the group is looking to hire dozens of new employees to join the existing team and have the restaurant and wedding operations open and running by the end of 2021.
Joseph Smith, founding partner of 1754 Properties said the group has significant new renovations planned. “We take such historical assets seriously and will be good stewards of the hotel’s intriguing past and its wonderful 1920s façade,” Smith said.
The hotel—located at 905 N Florida Ave. in downtown Tampa—opened in 1927 as Hotel Floridan and was eventually closed in 1989. The Sarasota Herald-Tribune said five different owners had it before 2005 when developer Antonios Markopoulos bought it for $6 million. It reopened in 2012 as the Floridan Palace Hotel.
Yesterday's sale includes a 0.75-acre parking lot site at 505 E. Taylor St.
New ownership is not talking to media about the sale.
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