Hotel Cala Will Open on Tampa Riverwalk in January 2027

The seven-story hotel will offer 281 rooms and 16 suites along the Tampa Riverwalk.

Updated on Oct. 7, 2026 in Hospitality

Hotel Cala Will Open on Tampa Riverwalk in January 2027

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The Hotel Cala is scheduled to open its doors on the Tampa Riverwalk in January 2027. Located at 200 N. Ashley Drive, the property represents a major rebranding of the former Sheraton Tampa Riverwalk.

Why it matters

The project aims to revitalize a key waterfront location by integrating modern luxury hospitality with local architectural influences. The development is designed to enhance the city's event infrastructure and tourism appeal.

The seven-story hotel will feature 281 rooms, 16 suites, and 10,000 square feet of event space. This project is backed by more than $90 million in secured investment for upgrades and rebranding.

The players

Newbond Holdings

This is a real estate investment firm that focuses on high-quality hospitality assets and development projects.

Apollo Global Management

This is a global alternative asset manager that provides capital and strategic support for large-scale real estate developments.

Curio Collection by Hilton

This is a global upscale brand of independent hotels that are managed and franchised by Hilton Worldwide Holdings.

Tao Hospitality Group

This is an international hospitality company that owns and operates numerous restaurants, nightclubs, and entertainment venues.

Schulte Hospitality

This is a full-service hotel management company that oversees property operations for various brands across the United States.

The details

The developers, Newbond Holdings and Apollo Global Management, are incorporating fluted tile columns inspired by historic Ybor City cigar factories into the new design. The property will operate under the Curio Collection by Hilton, with management oversight provided by Schulte Hospitality and Tao Hospitality Group for its two restaurants.

January 2027: The Hotel Cala is expected to open its doors to the public.

Market Landscape

The transition of this waterfront property reflects a broader trend of institutional investors upgrading legacy hotel assets to meet current market demands. This rebranding follows a pattern of portfolio growth established by the Curio Collection by Hilton brand.

Local residents and visitors can expect new dining options managed by Tao Hospitality Group upon the hotel's opening. The facility will also provide 10,000 square feet of space available for community and corporate events.

The takeaway

The transformation of the former Sheraton highlights how significant capital investment is being used to reposition older waterfront hotels in high-traffic urban areas. Prospective event planners should monitor the property's progress throughout 2026 to secure space ahead of the 2027 opening.