The Wyndham Jacksonville Riverwalk Hotel has been acquired by Vantage Hospitality Group, which reportedly paid $9 million for the 323-room hotel earlier this week and changed its name to Lexington Hotel & Conference Center — Jacksonville Riverwalk.
Word is the hotel will undergo an 18-month renovation, though the price of the renovation has not been disclosed.
The hotel, as well as 10.3 acres surrounding it, has been for sale for several years, writes Jacksonville.com.
In 2013, the asking price for the 10.3 acres was $14.9 million and Selton said that’s still the working figure.
The five-story Wyndham opened in 1981 as a Sheraton, was later a Radisson before becoming a Wyndham in 2006. It sold in 2001 for $21 million to Riverwalk Hotels, a Miami partnership. But it was foreclosed on, and in 2012 its lender purchased it for $100 at auction, Jacksonville.com further reports.