Developer Baywood Hotels lead by Chris Desai and Al Patel have secured a $17.6 million construction loan to build a Hilton Home2 Suites hotel near St. Pete-Clearwater International Airport in Florida. Ocean Bank provided the loan to Baywood affiliate PIE Ulmerton Hospitality LLC. The 128-room hotel will be five stories. Baywood Hotels purchased the 1.68-acre site at 4485 Ulmerton Road in June 2022 for $3.02 million. Construction is to begin in October 2023.
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