The partners of Augustine Development Group provided details of their plans, after they purchased five lots to bring back the historic Ambassador Hotel in Downtown Jacksonville to its “original luster”.
Smith Travel Research reports in a Florida Times-Union article by Stuart Korfhage that the hotel occupancy for the 12 months ending in March 2015 was up 7.1% and the ADR up 4.3% to $119. Occupancy in March 2015 was up 3 percentage points over March 2014.
Leave it to The Florida Times-Union for the scoop… Colliers International’s Bob Selton and hospitality specialist Richard Lillis are selling the Wyndham Jacksonville Riverwalk and adjacent 10 acres. Drew Dixon of The Florida Times-Union has the brief announcement.
UPDATE: Karen Brune Mathis of The JAX Daily Record reports Coral Springs-based Vantage Hospitality is the buyer.
A California firm specializing in hotel renovations has received permits to renovate the Baymeadows Embassy Suites hotel for a contract worth about $4.4M, according to the JAX Business Journal’s Robert Ward.
An Ormond Beach-based hotel developer is planning to build a 206-room Courtyard by Marriott Hotel in St. Augustine Beach along A1A between 5th and 7th Streets, just south of downtown St. Augustine. Bob Tis of The St. Augustine Record via The Florida Times-Union has the story.
The long-shuttered Bethelite Conference Center on Arlington Expressway has finally sold to a South American investor for about $1.25M, or $7/SF or $66k/acre. Roger Bull of The Florida Times-Union has the announcement.
The hotel market in St. Augustine has recovered and is adding inventory, with plans for four new developments on the boards, including a new Wyndham Garden Hotel, and a new luxury hotel. Stuart Korfhage of The Florida Times-Union has the story.