JACKSONVILLE, Fla. — The DoubleTree downtown is getting a $14.6 million renovation and a name change.
Sotherly Hotels announced that it has entered into a new 10-year franchise agreement with Hilton Worldwide to relicense it as DoubleTree by Hilton under the name Hotel Bellamy. Sotherly will undertake a complete renovation of the property, located at 1201 Riverplace Blvd., with an estimated completion date of January 2027 and cost of $14.6 million.
Renovation plans for the property will include a complete reimagining of its guestrooms, public spaces, building exterior, pool and sun deck, existing food and beverage offerings, as well as the addition of a new riverfront dining concept, according to a news release.
Sotherly Hotels announced Tuesday it had executed a secured loan with Fifth Third Bank, with the DoubleTree by Hilton Jacksonville Riverfront hotel "collateralized," according to a company press release.
The loan has an initial principal balance of approximately $26.25 million, with an additional $9.49 million available to fund a product improvement plan at the hotel.
Renovation plans for the property will include a complete reimagining of its guestrooms, public spaces, building exterior, pool and sun deck, existing food and beverage offerings, as well as the addition of a new riverfront dining concept, according to a news release.
“We are pleased to announce the completed refinance as well as the relaunch plans for our Jacksonville asset. Given the current lending environment, we view the completion of the refinancing of the mortgage loan for this hotel with Fifth Third Bank as a positive outcome for the company,” said Sotherly Hotels CEO Dave Folsom. “The hotel’s direct riverfront location is perfectly suited to reposition the hotel as the first full-service lifestyle concept in the downtown Jacksonville market. We believe our repositioning strategy, coupled with the strength of the Hilton reservation system, will position the hotel for success for years to come.”