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.”