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Riverwalk Sheraton Sold To Virginia Hotelier

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By TED JACKOVICS | The Tampa Tribune

Published: September 10, 2007

TAMPA - A Virginia-based hotel operator has agreed to purchase the Sheraton Tampa Riverwalk Hotel and invest $6 million, adding 4,500 square feet of meeting space and other upgrades.

Crescent Hotels and Resorts of Fairfax, Va., said Monday it expects to complete the purchase of the 293-room hotel at 200 N. Ashley Drive along the Hillsborough River by late September. The company did not disclose the sale price.

Lehman Bros. and Driftwood Hospitality own the hotel in a joint venture. The hotel was changed to a Sheraton from a Radisson in 2005.

The hotel is expected to remain under the Sheraton flag, Crescent officials said Monday.

In addition to expanding the meeting space to 11,300 square feet, Crescent said it intends to complete a renovation of rooms and the lobby that was started several years ago.

Reporter Ted Jackovics can be reached at (813) 259-7817 or tjackovics@tampatrib.com.

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