$7.5M St. Pete Beach luxury hotel renovation nearly done

Minnesota-based real estate developer Sherman Associates says work on a $7.5 renovation project at the Hotel Zamora on St. Pete Beach is expected to be done this fall.

The company, which bought the hotel at 3701 Gulf Blvd. for $38 million in 2022, says the work includes major upgrades to pieces of the property as well transforming an adjacent former bank branch it also bought into a wedding venue.

The company says the changes to the property will elevate it into a 4-star luxury hotel.

The Hotel Zamora is a 64-room boutique property that sits on the intercoastal waterway. It has private dock access, an upscale full-service restaurant named Castile and a rooftop deck with views of the beach and the Gulf of Mexico.

In addition to the work, Castile will be rebranded in coming months and feature a Mediterranean-inspired menu with locally sourced ingredients. Sherman says despite the changes it will continue to serve its signature dishes.

The renovation, Sherman says in a statement, includes upgraded and remodeled guest rooms that “will provide a modern coastal setting designed to welcomes guest with a relaxing atmosphere.”

There also will be upgrades to the hotel’s amenities including the lobby, pool deck, pool bar and fitness center and new exterior signage and landscaping.

As for the former bank, the 2,500-square-foot space is being converted into a wedding and event venue fitting up to 90 guests.

Sherman has developed more than 12,000 multifamily units in several states as well as managing over 720,000 square feet of commercial space, including five hotels, four Starbucks, three restaurants, and two solar gardens.

Its hotel flags include an Aloft and Hilton in Minneapolis, a Sheraton in Duluth, Minnesota and a Holiday Inn Express & Suites in Des Moines, Iowa.

Correction: This story has been updated to include the correct number of rooms, 64.