close
close
Sun. Jul 21st, 2024

DoubleTree to undergo $14M transformation to become ‘first fully-serviced lifestyle concept’ in city centre

By meerna Jul11,2024
DoubleTree to undergo M transformation to become ‘first fully-serviced lifestyle concept’ in city centre

JACKSONVILLE, Florida. – In three years, DoubleTree by Hilton will look different.

The hotel at 1201 Riverplace Boulevard, on the Southbank Riverwalk, will undergo a $14.6 million renovation and be transformed into the Bellamy Hotel, according to News4JAX partner The Daily Record.

According to TDR, the multi-million dollar transformation includes redesigning guest rooms, public spaces, the building’s exterior, pool and sundeck, existing food and beverage offerings, as well as adding a restaurant concept with river views.

“The hotel’s direct riverfront location is ideally suited to repositioning the hotel as the premier full-concept lifestyle property in the downtown Jacksonville market. We believe our repositioning strategy, combined with the strength of the Hilton reservation system, will position the hotel for many years to come,” said Dave Folsom, CEO of Sotherly, in a release obtained by TDR.

Sotherly Hotels Inc. said the company refinanced the property with a loan from Fifth Third Bank that “had an initial principal of approximately $26.25 million, with an additional $9.49 million allocated for hotel improvements,” TDR reported.

Under a 10-year lease agreement with Hilton Worldwide, the hotel will be re-licensed as a DoubleTree by Hilton property under the name Hotel Bellamy.

According to hotel data service Smith Travel Research, a soft-brand hotel is a tie between an independent hotel and a hotel chain.

The project is scheduled for completion in January 2027.

The property was originally built in 1967 as a Hilton hotel. The DoubleTree was acquired in 2005.

To read the full TDR article, click here.

Copyright 2024 by WJXT News4JAX – All rights reserved.

By meerna

Related Post