-- $10 Million Renovation Underway
|CHICAGO - March 31, 2005 -- Hyatt Hotels & Resorts announced today
that it has assumed management of Adam's Mark Jacksonville, renaming it
Hyatt Regency Jacksonville Riverfront. The 966-room hotel was purchased
by Jacksonville Waterfront Partners, LLC - a joint venture between Oxford
Lodging Advisory & Investment Group, LLC and Longwing Real Estate Ventures,
LLC, a member of the Dubai Investment Group - from HBE Corporation.
Located in the heart of the downtown business district and directly on the waterfront of St. Johns River, the hotel offers the largest ballroom and collection of meeting rooms in Northeast Florida.
A $10 million guestroom renovation will begin immediately and is due for completion by early 2006. All newly refurbished guestrooms and public space will include such Hyatt amenities as the Grand Bed, featuring a Sealy Posturepedic 720 Series pillowtop mattress, 21 oz. down blankets, 250-thread-count triple sheeting, and lush down feather pillows; self-serve automated check-in kiosks; and high-speed internet access throughout the hotel.
"Hyatt's experience in the upper upscale lodging segment, as well as
their vast collection of large convention and group hotels will ensure
Hyatt Regency Jacksonville Riverfront will be the premier group meeting
destination in Northeast Florida," said Robert D. Kline, President of Oxford
Lodging Advisory & Investment Group, LLC.
Pictured left to right: Phil Tufano, General Manager; Jacksonville Mayor
John Peyton; Victor Lopez, Hyatt Hotels & Resorts; Andrew Strasser,
Oxford Lodging & Advisory Investment Group; Simon Gluck, Longwing
Real Estate Ventures.
Hyatt Regency Jacksonville Riverfront will be Hyatt's 12th property in Florida, joining other properties in Bonita Springs, Coral Gables, Ft. Lauderdale, Key West, Miami, Orlando, Sarasota and Tampa.
"We and our partners at Oxford Lodging are patient and disciplined investors," said Vincent Pica, CEO of Longwing. "Working together for over a year, we sought a quality hotel that was situated on the water, had a large convention capability and was a member of a community with strong, positive momentum. Jacksonville and this property met our goals and we were delighted to be able to move decisively together to acquire it."
Steve Goldman, executive vice president of development and acquisitions for Global Hyatt, added, "Jacksonville is a key Florida convention market and continues to grow at a rapid pace. This hotel is in a superb destination and a welcome addition to Hyatt's portfolio."
A primary second-tier city meeting location, Hyatt Regency Jacksonville Riverfront offers meeting planners an impressive 110,000 square feet of meeting space, including a 27,100 square foot grand ballroom and 30 individual meeting rooms, accommodating up to 4,300 attendees.
Hyatt Regency Jacksonville Riverfront also offers a full-sized outdoor pool and sun deck, sauna, fitness center and business center. Guests can enjoy four dining venues including Bravo! Ristorante, offering authentic Italian cuisine and entertainment nightly; a lobby restaurant for casual dining and Sunday brunch; sports bar with big screen TVs and appetizers, and lobby bar.
Just 18 miles from Jacksonville International Airport, downtown Jacksonville is a leading Florida destination. In addition to world-class golf and 20 miles of white sand beaches, the city offers a plethora of cultural activities including museums, a performing arts center, several theatres and historic St. Augustine. Families will also enjoy the zoo, Greyhound racing and Adventure Landing Water Park.
About Oxford Lodging Advisory & Investment Group, LLC
About Longwing Real Estate Ventures, LLC
Hyatt Hotels & Resorts
|Also See:||Oxford Lodging Advisory & Investment Group, LLC Acquires the 329-room Pan Pacific San Francisco from Tokyu Corporation / Aug 2003|
|FaulknerUSA Exclusively Negotiating with Hyatt Corporation to Operate Proposed 1,000 room Convention Headquarters Hotel in San Antonio / February 2005|