The largest hotel in Jacksonville, Fla., has a new owner. The 963-room Hyatt Regency Jacksonville Riverfront has been acquired by Fortress Investment Group for $53 million. And area hoteliers are happy about it.
The hotel, which has 110,000 square feet of meeting and convention space, was purchased from the lender that foreclosed on it 2013.
To hoteliers in the urban core, the deal means the stabilization of a prime asset, Burnell Goldman, GM of the Omni Jacksonville Hotel, told the Jacksonville Business Journal.
“For me as a hotel GM, I’m happy to hear about it,” Goldman said, “because it means stability and that as a city we can continue to bid on citywide conventions and know we’ll be stable.”
The previous owners of the Hyatt had explored adding to their convention space, although nothing ever came of it.