Finance & DevelopmentSage Hospitality Group Acquires One Ocean Resort & Spa

Sage Hospitality Group Acquires One Ocean Resort & Spa

DENVER, Colorado—Sage Hospitality Group announced that Sage Investments entered into a joint venture agreement with Aspect Real Estate Group, Corner Lot, and Kelco Management and Development, closing on One Ocean Resort & Spa.

A resort in Atlantic Beach, Florida, One Ocean Resort & Spa is situated over 3 acres of oceanfront real estate. The property benefits from its location in Jacksonville Beaches. Sage has committed to a comprehensive capital improvement plan, including an upgrade to all guest-facing areas and a repositioning of the resort in 2025 led by Sage Studio, the company’s graphic and interior design division. As part of the agreement, Sage will oversee operations of the 193-room resort, the resort spa, and Azurea, the signature restaurant. The property will be part of Sage’s Independent Collection, joining a group of 18 hotels across the country, including Hotel Van Zandt, The Crawford, Asbury Ocean Club, and Shinola Hotel.  

“Growing our portfolio of independent, luxury, and lifestyle hotels is one of our primary strategic objectives in our quest to become America’s favorite lifestyle hospitality company, and One Ocean Resort & Spa is a noteworthy new addition as our first acquisition in Florida,” said Daniel del Olmo, president of Sage Hospitality Group. “We see enormous potential in this market and are committed to thoughtfully elevating the property through a significant renovation in 2025. We couldn’t be more grateful to be partnering with Corner Lot, Kelco, and Aspect on this exciting investment.” 

“Corner Lot is honored to help bring a best-in-class hospitality group in Sage to the Northeast Florida region. After our recent success in partnership with Kelco on Downtown Jacksonville’s Home2Suites by Hilton, we are thrilled to transform one of Jacksonville’s most famous assets, the former Sea Turtle Inn, into a world-renowned destination hotel,” said Corner Lot CEO Andy Allen. “Jacksonville is ready for world-class hospitality and experiences. We are excited to be doing our part with this newly established partnership.”

Aspect Real Estate Group is a private commercial real estate investment firm based in Jacksonville, Florida, and led by principals Alex Cranberg, Cathy Cranberg, and Tripp Gulliford. “Along with other dedicated local investors and two renowned operating partners, we are thrilled to reclaim One Ocean, not just as a hotel, but as a cherished community gem. With unwavering commitment, we will further elevate this beachfront hotel ensuring it remains a place where we all love to stay, play, and dine,” said Alex and Cathy Cranberg, of Aspect Holdings.

Between Amelia Island, Ponte Vedra and St. Augustine, One Ocean Resort & Spa is an oceanfront destination. The 193 guestrooms reflect the oceanfront setting, with custom beds and layouts, many of which offer private balconies.  Guests can explore Atlantic Beach or the Beaches Town Center. The Spa at One Ocean offers a range of treatments including massages, wraps, facials, and more.

As part of the transition, the team at Sage Restaurant Concepts will oversee all food and beverage operations at One Ocean Resort. This includes the signature restaurant Azurea, with a seafood-focused menu, as well as the Lobby Coffee and Wine Bar, poolside dining, in-room dining, and events. One Ocean Resort has more than 10,000 square feet of event space, including outdoor spaces.