OTO Development paid $31.5 for a St. Petersburg resort that was recently renovated due to hurricane damage. The 102-key Beachcomber Beach Resort reopened Oct. 30 after a year’s worth of repairs. The Tampa Bay Business Journal reports Gencom, the seller, bought the hotel in 2018 for $24 million.

Hodges Ward Elliott brokered the sale of the resort. Preston Reid, Rudy Reudelhuber and Celina Nowicki represented the seller.

The resort sits on more than 6 acres and includes 2,100 square feet of meeting space. Amenities include two outdoor pools, direct beach access and the iconic Jimmy B’s Beach Bar.

OTO Development owns and operates four hotels in the Tampa Bay region, totaling 579 keys: AC Hotel St. Petersburg, Hampton Inn & Suites Ybor City, DoubleTree North Redington Beach and Hilton Garden Inn St. Pete Beach, which is adjacent to The Beachcomber.

The Beachcomber, at 6200 Gulf Blvd., was built in 1956 and was renovated after its 2018 purchase and then again after the 2024 hurricane.