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Sotherly Hotels Inc. Announces Refinancing and Relaunch Plans for Jacksonville, FL Hotel
Jul 09, 2024•almost 2 years ago
Contract Type
agreement
JacksonvilleHospitalityLeisureHotelDescription
Sotherly Hotels Inc. has executed a secured loan with Fifth Third Bank for its DoubleTree by Hilton Jacksonville Riverfront hotel. It has also entered into a new 10-year franchise agreement with Hilton Worldwide to relicense the hotel as Hotel Bellamy and will undertake a complete renovation of the property at a cost of approximately $14.6 million.
Agreement Insights
Based on industry dataContract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months