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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

JacksonvilleHospitalityLeisureHotel

Description

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.

Company Information

Company

Sotherly Hotels

Location

Jacksonville, North Carolina, United States

About

Sotherly Hotels Inc. is a hospitality company specializing in the ownership, acquisition, and development of upscale hotels.

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