Omni wants out of Downtown Jacksonville

[thelakelander]

In 2019, Downtown Jacksonville was in the middle of a hotel boom with several hotels either under construction or proposed. Five months into the COVID-19 pandemic, that great hotel boom appears to be over and now a major existing hotelier is ready to pack it up and leave town.

Read More: https://www.thejaxsonmag.com/article/omni-wants-out-of-downtown-jacksonville/

[Steve]

I actually think this could be a good thing post-pandemic.

I don't view their selling related to the pandemic - Omni's strategy seems to be more resort/major convention type places. Given Jacksonville clearly isn't interested in playing in the major convention game, this does make sense. I do wonder if they're hurt a little bit by hotel loyalty programs - most frequent travelers stick to one program as best as they can. The resort and convention business is a way around that.

Hilton is covered better than anyone, which (of the big 3) leaves IHG and Marriott. I can certainly see Marriott being interested in the market with one of their main brands.

[Pottsburg]

This hotel has Embassy Suites written all over it.  I'm a Hilton diamond member and would love to see this.

[tufsu1]

so much #winning

[bl8jaxnative]

With the boom in hotel building that's been going on, there's bound to be a correction.

Projects were being canceled before this nasty recession.

I suspect the Omni will live with someone looking to squeeze a few more pennies out of a tired property.  But I wouldn't count on it.   You can't loose 25%, 45% of business and not have a lot of casualties. 

[civil42806]

speaking of hotels, what ever happened to the ambassador renovation?

[thelakelander]

The developer just got council to change the project's development agreement:

The deal requires the developer to begin building improvements at the Ambassador Hotel by Sept. 25 and complete construction by March 25, 2022.

https://www.jaxdailyrecord.com/article/council-asked-to-change-ambassador-hotel-agreement