PANAMA CITY BEACH, Fla.– –The St. Joe Company (NYSE: JOE) (“St. Joe”) announces Hotel Indigo®, a stylish and vibrant boutique hotel, as the brand for its planned hotel in Panama City’s downtown waterfront district. St. Joe intends to build, own and operate the previously announced hotel on a portion of the Panama City Marina property fronting St. Andrews Bay. The City and St. Joe completed a lease agreement on the property earlier in the year.

Hotel Indigo is a part of a family of hotel brands from IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies. Hotel Indigo properties are designed to be as individual as their surroundings and reflect the local culture, meaning that no two properties are alike. Each hotel is part of the pulse and the rhythm of a place, drawing on the unique story of its local area to inspire every aspect of the hotel, from intriguing design to distinctive local ingredients on menus.

St. Joe’s plans call for a Hotel Indigo featuring 124 guest rooms providing sweeping views of St. Andrews Bay. “Hotel Indigo is a unique and exciting brand that we are very pleased to bring to downtown Panama City’s waterfront district,” said Patrick Murphy, St. Joe’s Senior Vice President of Operations. “We believe that Hotel Indigo is an ideal fit for this waterfront location and we see this hotel as a great piece of the ongoing revitalization of downtown Panama City.”

In addition to the Hotel Indigo, St. Joe intends to construct and operate a stand-alone restaurant on the property as well as an event lawn and a public promenade along the waterfront.

“It has been very exciting to see new private business investment like this hotel project come to Panama City,” said Greg Brudnicki, Mayor of Panama City. “We look forward to welcoming Hotel Indigo to our downtown where visitors can take in the beautiful views of the bay and enjoy a vibrant downtown Panama City.”

“The Hotel Indigo brand is well-known and loved by travelers to the Gulf Coast who are seeking an upscale stay and local experience and is a great fit for Panama City and the marina area,” said Arik Kono, Vice President of Upscale Development for IHG. “We are excited to work with The St. Joe Company to bring this project to life.”

St. Joe anticipates construction on the restaurant and Hotel Indigo to begin in the second quarter of 2021.