Hilton Bayfront in downtown St. Pete to be sold to prominent developer for $96 million
/In a deal that could reshape downtown St. Petersburg’s skyline in the years ahead, Delray Beach-based Kolter Group is under contract to purchase the Hilton St. Petersburg Bayfront on the downtown waterfront.
The 15-story hotel, which offers sweeping views of Tampa Bay, is expected to remain open for now. Long term, however, the three-acre site carries significant redevelopment potential.
Located at 333 1st Street South, the property sits across from Al Lang Stadium, The Dalí Museum, and the Mahaffey Theater, and just steps from Central Avenue and Beach Drive.
The hotel was originally built in 1972 and renovated in 2014. It includes 333 guest rooms, 33 meeting rooms, and approximately 47,710 square feet of event space.
According to a February 20th, 2026 filing with the U.S. Securities and Exchange Commission, the owners of the Hilton Bayfront, Ashford Hospitality Trust subsidiaries St. Petersburg Florida Hotel Limited Partnership and Ashford TRS Lessee II LLC, entered into a purchase and sale agreement on December 12th, 2025 to sell the property to Kolter Group Acquisitions LLC for $96 million.
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