Full Story: http://tbo.com/news/business/liberty-group-buys-five-hotels-20140620/The Tampa-based hotel developer and operator Liberty Group has acquired five hotels in the Southeast, bringing the company's total hotel fleet to 27.
When the company's Aloft hotel opens in downtown Tampa this July, that number will grow to 28.
In the meantime, Liberty acquired the five other from the Intercontinental-branded properties from a series of lenders and banks that had taken back possession of the hotels from the previous operators. Most of the sites will retain their brand names, though one will switch flags. The purchase price was not yet disclosed, but Liberty Chief Executive Officer Punit Shah confirmed the original development costs for the properties.