Akin Ushers Interstate, Waramaug In Tampa Hotel Deal

Law360, New York (October 28, 2011, 5:42 PM EDT) -- Interstate Hotels & Resorts Inc. has bought the Crowne Plaza Tampa East for an undisclosed sum, it said Friday, and plans an $8.5 million renovation of the 265-room hotel in a joint venture with Waramaug Hospitality LLC.

The hotel, located near Florida's Hillsborough Bay, had been managed by Prism Hotels & Resorts as part of a receivership agreement, but Interstate said it would take over management of the property as part of the new joint venture.

“This new acquisition transaction represents our second with Waramaug Hospitality...
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