Vancouver, Washington, August 29, 2018 – 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.”
