BAYSTAR HOTEL GROUP FACT SHEET (Updated
Dec. 2007)
BayStar Hotel Group, LLC (www.baystarhotels.com) is a
privately held hotel company that develops, acquires,
operates and sells hotels in the southeastern United
States. Its headquarters are located at 500 N. Westshore
Blvd., Suite 740, Tampa, Fla. 33609 and can be reached at
813-849-0001.
Formed in 2000, the company focuses on developing –
or acquiring – and operating limited-service
franchised hotels, such as Hampton Inns and Holiday Inn
brands, in emerging growth areas. With more than 40
years’ experience in the hospitality industry,
BayStar’s management team also consults with other
hotel owners and/or manages their properties for them. The
firm provides accounting, sales, marketing, administrative,
and human resource systems as well as counsel.
Current Properties
Holiday Inn Capitol East – Tallahassee
Acquired. The four-story, 148-room hotel is located
downtown, approximately one mile from the Florida State
Capitol building and across from the Governor's Square
Mall, at 1335 Apalachee Parkway, Tallahassee, 850-877-3171.
$750,000 has been invested in a full cosmetic upgrade.
Holiday Inn Express – Lake Buena Vista
Converted. BayStar purchased the 7-story, 200-room hotel in
Sept. 2005. $2.2 million has been invested to upgrade and
convert the former Radisson into a Holiday Inn Express.
Located at 8686 Palm Parkway, Orlando, Fla. 32836, the
Holiday Inn Express – Lake Buena Vista can be reached
at 407-239-8400. The hotel began receiving guests under the
Holiday Inn Express brand on Dec. 15, 2005.
Holiday Inn Express & Suites – Clearwater
North/Dunedin
Consulting Contract. BayStar has provided management
consulting services since 2001 to the owners of this
three-story property. The hotel received the
franchise’s “Newcomer’s Award” in
2002. It also won the Torch Bearer Award from the Global
Investors Conference for InterContinental Hotels Group in
2003 and 2004. This award recognizes outstanding customer
satisfaction and highlights the hotel as one of the top
fifteen properties in the system.
Hampton Inn & Suites - Largo, FL
The Hampton Inn & Suites - Largo, FL is 18 miles west
of Tampa Airport, in the heart of downtown Largo, FL. The
five-story, 92-room property is located at 100 East Bay
Drive.
Holiday Inn Lakeland Hotel & Conference Center -
Lakeland, FL
Holiday Inn Hotel and Conference Center, located at 3260 US
Highway 98N in Lakeland, FL, is the "Official Winter Home
of the Detroit Tigers" for the 2007-2009 seasons. Located
at Exit 32 off of I-4, the property is conveniently nestled
between Tampa and Orlando, just a quick drive to Central
Florida attractions. The hotel's five flexible conference
rooms are home to numerous meetings, banquets and
conventions throughout the year.
Best Western Brandon Hotel & Conference Center -
Tampa, FL
Best Western Brandon Hotel & Conference Center, located
at 9331 Adamo Drive, Tampa, Florida 33619, completed a
major guest room, lobby and breakfast area renovation in
December, 2007. The hotel has 117 "smoke-free" guest rooms,
1,300 square feet of meeting space and is located in the
Brandon urban center adjacent to Tampa.
The Heritage Hotel - St. Petersburg, FL
Purchased by BayStar for conversion in fall 2008 to the
Hotel Indigo brand. The 71 room property, located in
downtown St. Petersburg at 234 3rd Avenue North, is a
historical circa 1926 boutique hotel with many unique
features and a celebrated history.
Past Projects
Hampton Inn & Suites - Tampa East
BayStar oversaw development and construction of this
75-room hotel that opened in 11/05. The hotel is located on
Interstate 4, just one mile east of the intersection with
Interstate 75. The hotel is the first Hampton under new
brand-wide standards issued by Hilton during 2004. The
hotel was cash flow positive within a few months of
opening. The hotel was sold in July of 2007. The total cash
on cash return was 185% and the internal rate of return
(IRR) was 26%.
Holiday Inn Express & Suites – Orlando
International Airport
Converted. The four-story, 107-suite property is located at
7900 Conway Road, approximately 1.5 miles from the Orlando
International Airport. BayStar acquired the former Comfort
Inn, in June 2004 and invested $700,000 in upgrades. It
began flying the Holiday Inn Express & Suites flag in
Nov. 2004. The property was sold in December 2006. Total
cash on cash return of 441% and internal rate of return
(IRR) of 114%.
Holiday Inn Express & Suites Tampa – Anderson
Rd./Veterans Expressway
Developed and Sold. BayStar developed this 85-room,
four-story property at 9402 Corporate Lake Dr., near the
Veteran’s Expressway and opened it on June 25, 2002.
BayStar managed it profitably until the company sold the
hotel in August 2005. Total cash on cash return of 337% and
internal rate of return (IRR) of 38%.
Hampton Inn & Suites – Tampa Veteran’s
Expressway
Developed and Sold. This was the first hotel developed by
BayStar. The 86-room, five-story property at 5628 W. Waters
Ave. near the Veteran’s Expressway opened on Jan. 12,
2001 and was completely booked for Super Bowl weekend that
year. In late 2002, a buyer approached BayStar, which
ultimately sold the hotel in March 2003. Total cash on cash
return of 276% and internal rate of return (IRR) of 43%.
Hampton Inn-Baseball City (83 rooms)/Disney World South
and the Comfort Inn Baseball City (150 rooms)
Management Services. Both of these properties were
under-performing and in franchise default when BayStar
assumed their management in Nov. 2000. BayStar improved
both their occupancy and daily rates, upgraded operations
and quality, and negotiated with the respective franchisers
to remove the defaults. After less than a year under
BayStar’s management, both properties were sold by
the owner in Aug. 2001.
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