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Sotherly Hotels Inc. Announces Refinancing and Relaunch Plans for Jacksonville, FL Hotel

Jul 09, 2024almost 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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Based on industry data
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.