Hotel management firm makes big buy in Ohio

CLEARWATER — TJM Properties has acquired the Crowne Plaza North-Worthington in Columbus, Ohio, the latest in a series of hospitality-related deals.

Terms of the Crowne Plaza acquisition weren't disclosed.

Clearwater-based TJM, which shifted its portfolio from senior living facilities to hospitality in 2013, says it will retain the Crowne Plaza flag and continue to offer all the amenities of the Crowne Plaza brand. The company also plans a major renovation of the 300-room hotel, according to a release. The renovation will be part of Crowne Plaza's new Worklife Room, which will offer guests an innovative new concept that combines comfort, connectivity and flexibility, the release adds.

The purchase marks the third major acquisition for TJM this year. The company also bought the Crowne Plaza Syracuse in downtown Syracuse, N.Y. in May. "We are delighted to add another noted Crowne Plaza hotel to our portfolio," says Cem Erenler, vice president of hotel operations and business development at TJM Properties, in the statement.

The company also bought Harrah's Tunica, a 2,000-acre resort complex in Tunica, Miss. earlier this year.

TJM's strategy is to buy and hold hotel properties, fix them up when necessary and replace or enhance the management staff.