Liberty Group Acquires the Hampton Inn & Suites by Hilton in Tampa, Florida

Aug. 15, 2012 - PRLog -- TAMPA, FLORIDA: August 15,2012 - Liberty Group is pleased to announce that it has acquired the Hampton Inn & Suites by Hilton in Tampa, Florida. The purchase marks Liberty's 18th hotel acquisition throughout the United States since 2010.

Built in 2005, the hotel is strategically located on Interstate 4 between Tampa and Orlando, and adjacent to the Hard Rock Hotel & Casino and the Florida State Fairgrounds & Amphitheatre. The Hard Rock Hotel & Casino was recently named as the 4th largest casino in the United States and 6th largest casino in the world, with additional expansion planned in the near future.

"This hotel perfectly compliments our growing portfolio, and we have strategically acquired the hotel immediately prior to the Republican National Convention to capture the additional revenue during this event. Long-term, we anticipate creating tremendous value through our great relationship with Hilton Hotels, increasing RevPar & Net Operating Income through capital improvements and operational efficiencies, and continued cap rate compression," said Punit R. Shah, President & Chief Operating Officer of the Liberty Group. The hotel will be managed by Liberty Hospitality Management, an affiliated-entity of the Liberty Group.

Prior to Liberty Group's acquisition, the Hotel was most recently sold in 2008 for $8.5m, and subsequently foreclosed upon by its senior lender Bank of America/Morgan Stanley and its special servicer, CIII Asset Management in 2011. Atlanta-based Jones Lang LaSalle Hotels brokered the transaction between Liberty Group and CIII Asset Management.


About the Liberty Group

Established over three decades ago by Raxit N. Shah and now led by his son Punit R. Shah, the Liberty Group is a full-service, vertically integrated hotel investment, development, and management company that prides itself on its proven entrepreneurial and strategic approach to investment placement. We target our investments to maximize asset performance through clear and concise investment goals.

Our proactive, integrated approach of continually assessing each investment with regard to its performance, market position, current value, and capital structure allows us to monitor the market and optimize returns.

With over $265,000,000 invested across various asset classes. the Liberty Group demonstrates a proven track record behind successful real estate investment and management.

Liberty Group continues to seek management engagements, opportunistic hotel acquisitions, and senior mortgage positions meeting our investment criteria. For more information on the Liberty Group or its platforms, please contact us at 727-866-7999 or visit our website at LibertyG.com