OTO Development purchases, opens new AC Hotel

OTO Development, part of The Johnson Group, has purchased and will operate the newly opened AC Hotel by Marriott St. Petersburg Downtown.

“This AC Hotel is the perfect complement to St. Pete’s lively downtown vibe,” said GM Ben Walters. “The overall design balances form and function, while small details provide an authentic sense of place. Whether you’re in town to work or play or a bit of both, we’re an easy walk to everywhere—but with our lively AC Lounge in the lobby and our rum-drenched restaurant on the roof, you might not want to go anywhere else.”

The eight-story hotel comprises 172 guestrooms—a dozen of them suites—along with 2,500 sq. ft. of activated shared space, 1,800 sq. ft. of meeting and event space, a fitness center and an outdoor pool.

The collaborative lobby includes the brand’s signature AC Kitchen and AC Lounge. The eighth-floor rooftop features Cane & Barrel, a Cuban-inspired restaurant and bar, which offers seating within an interior lounge as well as out on a terrace overlooking Tampa Bay.

Located in the waterfront arts district, the hotel is walkable to more than 100 local restaurants, breweries, recreation sites and cultural venues. It’s the hospitality portion of Ascent St. Petersburg, a mixed-use project developed by Greystar Real Estate Partners and Concord Hospitality that also comprises a 36-story luxury apartment tower and 5,500 sq. ft. of retail space. With Greystar serving as general contractor, hotel project partners include R2L:Architects, architecture; DLR Group, hotel interior design; and Ellis Adams Group, Cane & Barrel concept and interior design.

“Travelers love the AC Hotels brand, and our company does, too,” said Todd Turner, CEO, OTO Development. “Greystar and Concord have developed a fantastic property and OTO is privileged to add it to our portfolio.”

With this purchase—which was brokered by Preston Reid, formerly with Berkadia—the hotel becomes the seventh AC Hotel in OTO Development’s owned portfolio.