AON Hospitality Group bought the Holiday Inn Express & Suites Jacksonville (Fla.) Southeast Medical Center Area and Hampton Inn Jacksonville/Ponte Vedra Beach-Mayo Clinic Area. Both hotels are in the Jacksonville metropolitan area.
Hunter and Leo Reilly, both in Marcus & Millichap’s Fort Lauderdale office, had the exclusive listing to market the property on behalf of the seller. The buyer, AON Hospitality Group, was procured by Hunter and Reilly. AON Hospitality Group is a vertically integrated full-service hotel owner, operator and developer with a strong presence in North Florida and New England.
The Holiday Inn Express & Suites at 4791 Windsor Commons Court is a 104-room hotel located in Jacksonville. The property is less than five miles west of the Hampton Inn off J Turner Butler Boulevard west of the Mayo Clinic. The 117-room Hampton Inn property is located at 1220 Marsh Landing Parkway in Jacksonville Beach just east of the Mayo Clinic.
“Unlike other select markets throughout the Southeast, these hotels maintained a positive year-over-year revenue trend during the sale process which enhanced marketability and helped insulate the value from downward pressure driven by elevated cost of debt and insurance,” Marcus & Millichap SVP Robert Hunter said in a statement. “The buyer can leverage the highly publicized large-scale Mayo Clinic expansion currently under way.”
Both hotels are five-story steel and concrete buildings constructed in the early 2000s. The area’s Mayo Clinic, ranked the No. 1 hospital in Florida according to U.S. News & World Report for 2022-2023, is located between both properties.