PANAMA CITY BEACH, Fla. – The St. Joe Firm (NYSE: JOE) (“St. Joe”) and InterMountain Administration, LLC (“InterMountain”) introduced the graduation of building on a brand new resort in Panama Metropolis Seaside, Florida.
The events have shaped a three way partnership to design, develop, assemble and personal a limited-service resort to be situated within the common Pier Park procuring and leisure district. The present plan requires a 121-suite Residence Inn by Marriott to be managed by InterMountain. Residence Inn by Marriott suites have full kitchens, outfitted with a full-sized fridge, stovetop, microwave, dishwasher and low maker. Plans name for facilities to incorporate a convention room, pool, health heart, and outside patio with grills.
The resort’s location on the north facet of U.S. Freeway 98 close to the intersection of Pier Park Drive is handy for households touring on trip in addition to for enterprise vacationers. Visitors will probably be inside strolling distance of close by procuring, eating, and the white sand seashores, in addition to the Frank Brown Park sports activities advanced and occasion website.
“We’re thrilled to proceed our relationship with InterMountain,” stated Dan Velazquez, Senior Vice President of Industrial Actual Property for St. Joe. “The Pier Park space is flourishing, and this deliberate Residence Inn by Marriott will increase on our present profitable operations.”
The St. Joe Firm and InterMountain already personal the TownePlace Suites by Marriott®, an adjoining 124-room suite resort in Panama Metropolis Seaside.
“We’re very happy with our success of our TownePlace Suites by Marriott close to Pier Park – in actual fact, it’s so profitable that we’re answering extra demand with this new resort,” says Dewey Weaver, proprietor of InterMountain. “We imagine this resort is coming to the appropriate place on the proper time to reinforce the Panama Metropolis Seaside expertise each for guests and residents. It should assist help native occasions and native companies by bringing extra lodging to areas which might be inside strolling distance of points of interest.”
This Residence Inn by Marriott will add to St. Joe’s rising resort portfolio. This would be the 12th resort owned or managed by St Joe, bringing the entire operational resort rooms and resort rooms at the moment underneath building to 1,298.
Sitework has already begun on the Residence Inn by Marriott, with an anticipated completion date in 2024.
About InterMountain
InterMountain Inns, a number one hospitality firm, is family-owned and operated with a nationwide portfolio of 92 accommodations comprised primarily of extended-stay and select-service. Dewey Weaver based InterMountain roughly 40 years in the past, and since then has pursued a method of regular, constant development by improvement and possession of high-quality, premium-branded accommodations. With Dewey actively concerned in all elements of a enterprise of a thousand particulars, InterMountain continues to give attention to what has contributed to its success: taking nice care of their workers and visitors, and constructing sturdy, long-term relationships with homeowners and resort manufacturers.
Since inception, InterMountain has expanded to supply a variety of third-party companies by skilled, in-house groups. These companies embody resort administration, improvement companies, income technique, gross sales, digital technique, and renovation/design/procurement.
InterMountain has constructed and/or renovated over 200 properties nationwide, with a pipeline of 20+ accommodations in varied phases of improvement or repositioning. For extra on InterMountain Inns, third-party companies, or to view resort areas, go to www.immhotels.com.
Concerning the St. Joe Firm
The St. Joe Firm is an actual property improvement, asset administration and working firm with actual property belongings and operations in Northwest Florida. The Firm intends to make use of present belongings for residential, hospitality and business ventures. St. Joe has vital residential and business land-use entitlements. The Firm actively seeks larger and higher makes use of for its actual property belongings by a variety of improvement actions. Extra details about the Firm could be discovered on its web site at www.joe.com. Regularly, the Firm releases a video exhibiting progress on initiatives in improvement or underneath building. See https://www.joe.com/video-gallery for extra info.
David Demarest
Director of Communications and PR
The St. Joe Firm
