Real EstateAcquisitionsIsland Resort in Fort Walton Beach Acquired by Rockbridge

Island Resort in Fort Walton Beach Acquired by Rockbridge

COLUMBUS, Ohio—Rockbridge acquired the 331-room Island Resort in Fort Walton Beach, Florida, located on 11 acres of real estate with 600 feet of beach.

Rockbridge acquired the property from the original owner, who recently invested $20 million to fund renovations that reinforce its operation in the Florida Panhandle.

With beachfront suites and poolside rooms, The Island Resort is a full-service property and offers 24,000 square feet of flexible meeting space with a penthouse ballroom.

“We are excited to acquire this well-positioned property in a strong market like the Florida Gulf Coast and to continue its leadership position in the region,” said Chris Diffley, managing director of investment management, Rockbridge.

Additional amenities in the Island Resort include two swimming pools, one with a grotto with a waterfall and swim-up bar, The Fish House, The Island Grille, Tripp Tide Beach Bar, and a beachside coffee truck serving Victrola coffee. Also, the on-site Island Market features an assortment of snacks, beverages, and beach essentials.

Aimbridge Hospitality, which operates several other Rockbridge properties and currently operates 74 hotels in Florida, will operate the resort.

“We look forward to building on the hotel’s already great reputation while also bringing additional institutional expertise to the operations as well as planning targeted upgrades throughout the property to further improve its competitive position in the market,” added Rockbridge Senior Vice President, Matt Welch. “We are also pleased to continue our relationship with a trusted, proven partner like Aimbridge.”

RELATED ARTICLES

New Pyramid Global Hospitality COO Continues Focus on Big Data to Benefit Owners

Pyramid Global Hospitality Chief Operating Officer Eric Habermann retired in April following seven years with the company and a nearly 40-year career in hospitality....

Grand Hyatt Kauai Resort & Spa Launches Scholarship Program

Grand Hyatt Kauai Resort & Spa, a 605-room resort, announced the launch of a scholarship program to support the continued education of its colleagues...

Hilton Surpasses 500 Hotels in Florida

MCLEAN, Virginia, and MIAMI, Florida—Hilton announced a major milestone as the company surpassed 500 open hotels across Florida. This growth was fueled in part...

Hunter Hotel Advisors Brokers Sale of Residence Inn Detroit Novi

ATLANTA, Georgia—Hunter Hotel Advisors (Hunter) announced the successful sale of the 107-key Residence Inn Detroit Novi. Spark GHC purchased the property from an institutional...

PMZ Realty Capital Arranges Loan for Hampton Inn Marysville

PMZ Realty Capital LLC announced that it has secured a $5.3 million loan for the Hampton Inn Marysville, located in Marysville, Ohio. The loan...

LivAway Suites Breaks Ground on New Property in Tucson, Arizona

SALT LAKE CITY, Utah—LivAway Suites announced the groundbreaking of its newest property in Tucson, Arizona, which marks its fourth in the state over the...