Vesta Hospitality Acquires Embassy Suites Jacksonville Baymeadows in Jacksonville, Florida
Vesta Hospitality announced today that it has acquired the Embassy Suites Jacksonville Baymeadows hotel located in Jacksonville, Florida. The 277-suite hotel is now the largest in Vesta's growing portfolio. Rick Takach, Chairman and CEO of Vesta, made the announcement.
The only full service, all-suite hotel in Jacksonville, the property recently underwent a top-to-bottom $15 million renovation and Vesta will make additional investments in select upgrades. Vesta will manage the property as well.
The hotel is ideally located near downtown Jacksonville, one quarter mile east of I-95 and close to the Jacksonville beaches, the University of North Florida and TIAA Bank Field, home of the Jacksonville Jaguars NFL football team.
With over 800,000 residents, Jacksonville is the most populous city in the state of Florida. The hotel profits from a diverse mix of guests that features tourism but also includes military, business and collegiate and professional sports as demand drivers.
"The Embassy Suites Jacksonville Baymeadows is a fantastic hotel and Jacksonville is a thriving market and that's why we made the decision to enter the Florida market with this acquisition," said Takach. "We look forward to building on its success, as well as that of our recently acquired Embassy Suites in Brunswick, Georgia to explore additional acquisition opportunities in the southeastern United States."
About Vesta Hospitality
Long positioned as an industry leader, Vesta Hospitality has more than 20 years of creating return on investment for owners, investors, employees, and communities. Known for exceptional operations and as being experts in the hospitality industry, Vesta takes pride in its professional leadership team which has a proven track record for mitigating hospitality real estate risk while providing above average investment returns. Founded in 1996 and headquartered in Vancouver, WA, Vesta Hospitality is one of the nation's leading privately owned hotel management and development firms. With a portfolio of 17 properties owned, invested in or managed, Vesta continues to seek out acquisition, investment and property management opportunities across North America. Founded in 1996 and headquartered in Vancouver, WA, Vesta Hospitality is one of the nation's leading privately owned hotel management and development firms. With a portfolio of 17 properties owned, invested in or managed, Vesta continues to seek out acquisition, investment and property management opportunities across North America. Visit https://www.vestahospitality.com/
PR Spokesperson
Vesta Hospitality
T: 248-321-2035
E: [email protected]
W: http://www.vestahospitality.com
