19 Jan2022

Hunter Hotel Advisors Brokers Sale of Dual-Branded Property in Downtown Jacksonville

Hunter Hotel Advisors (“HUNTER”) is pleased to announce the sale of the Hilton Garden Inn Jacksonville Downtown Southbank and Homewood Suites Jacksonville Downtown. Under the advisement of Trey Scott, Senior Vice President of HUNTER, Lingerfelt CommonWealth Partners sold the dual-branded property to private equity firm Excel Group for an undisclosed amount. HUNTER closed the deal on December 31, 2021.

Built in 2009, the dual-branded property sits in the South Shore district of Downtown Jacksonville. The combined 221 rooms serve a growing number of tourists and a high concentration of office space in the North and South Shore. Along with Jacksonville’s pristine beaches, attractions like the Florida Theatre, Prime F. Osborn III Convention Center, and TIAA Bank Field are easily accessible. Guests will enjoy amenities like a 24/7 market, restaurant, lounge, boardroom, business center, and meeting space.

“The Dual-Brand HGI/HWS is extremely well-positioned to capitalize on growing demand in the Downtown Jacksonville market which is in the early stages of a complete transformation.  The momentum in Downtown Jacksonville is real as evidenced by the more than $2 billion in commercial development under construction and in final approval stages within the Downtown Jacksonville sub-market,” said Trey Scott, Senior Vice President of HUNTER.

Hotels in Duval County performed exceptionally well this past year, adding to the property’s appeal. According to STR, the county saw an occupancy of 71% in November 2021, the highest ever recorded for the month. Room Revenue and Average Daily Rate also outperformed November statistics from 2018 through 2020. This performance is no small feat as the county has only seen supply increase in recent years.

Join our Mailing List to receive
announcements on new hotels for sale

Click Here