Castlerock Asset Management Diversifies Hospitality Portfolio With the Acquisition of Westin Tampa Bay

Nashville's Premier Real Estate Development and Asset Management Firm Expands South of Tennessee With New Tampa Bay, Florida Project

USA, Tampa, Florida. July 03, 2019

Castlerock Asset Management announced today the acquisition of the waterfront Westin Tampa Bay, marking the fourth project from the Nashville-based real estate development group. Upon acquisition, Castlerock will begin a long-term investment that will bring Westin Tampa Bay to its fullest potential by the end of 2020.

"Tampa is bustling with fresh hospitality developments so it's a really exciting time and market for us to enter," said Vice President of Castlerock Asset Management Ray Waters. "We envision Tampa emerging into a vibrantly sought-after destination much like our home base Nashville and is the reason why we chose the Westin Tampa Bay as our first endeavor beyond our roots. We're also very much looking forward to growing our partnership with Westin Hotels & Resorts and bringing our unique vision to the local community through Westin's wellness lens."

The Westin Tampa Bay is a AAA Four Diamond hotel, and Castlerock's second Westin property, joining The Westin Nashville. Specializing in unique-and-distinctive commercial properties designed to enrich surrounding communities, Castlerock looks forward to infusing new energy into the local community while nurturing Westin Hotels & Resorts' core wellness mindset, premier amenities, elevated service and sophisticated ethos. Headquartered in the heart of Nashville, Castlerock brings a highly creative and sophisticated dynamic mindset to their distinctive portfolio which also currently includes the Bobby Hotel, The Westin Nashville and The Oak steakhouse.

About Westin Hotels & Resorts

Westin Hotels & Resorts, hospitality's global leader in wellness for more than a decade, empowers guests to transcend the rigors of travel while on the road through the brand's Six Pillars of Well-being: Sleep Well, Eat Well, Move Well, Feel Well, Work Well, and Play Well. At 225 hotels and resorts in nearly 40 countries and territories, guests can experience wellness offerings, including the brand's iconic and award-winning Heavenly Bed; game-changing gear lending program, TRX fitness equipment in signature WestinWORKOUT™ Fitness Studios; delicious and nutritious menu offerings, and more. Stay connected to Westin: @westin on Twitter and Instagram and facebook.com/Westin. Westin is proud to participate in Marriott Bonvoy, the new name of Marriott's travel program replacing Marriott Rewards®, The Ritz-Carlton Rewards®, and Starwood Preferred Guest® (SPG). The program offers members an extraordinary portfolio of global brands, experiences on Marriott Bonvoy Moments and unparalleled benefits including earning points toward free hotel stays and nights toward Elite status recognition. To enroll for free or for more information about the program, visit MarriottBonvoy.marriott.com

About Castlerock Asset Management

Castlerock is a premier real estate development and asset management firm specializing in unique-and-distinctive commercial properties designed to enhance and enrich the communities they serve. Headquartered in the heart of Nashville's bustling Downtown, Castlerock brings a highly creative and sophisticated dynamic to one of the nation's fastest-growing cities, honoring the region's rich history while breaking exciting new ground. Inspired by the city's creative energy and warm, welcoming vibe, the pair formed Castlerock, investing in prime urban property with the stated mission of bringing a new level of elegance and bold, contemporary design to Nashville's vibrant hospitality scene.