Hotel developments in Jacksonville show no signs of slowing down
Writer: Pablo Marquez
August 2024 — The Jacksonville hotel industry keeps swimming against the tide and shows no signs of slowing down. While other markets in the United States have seen a slowdown in hotel developments due to soaring construction and financing costs, Jacksonville is going against the national trend by doing the exact opposite and betting on a strong hotel development pipeline. Jacksonville is one of the few U.S. markets that has not experienced a construction slowdown in the post-pandemic period. So far this year, four hotels have opened in Jacksonville and two more expected to be on the way.
The main factor that contributes to Jacksonville’s continued hotel developments are other ongoing infrastructure projects. Some main construction developments taking place in the region include the JAXPORT dredging project, the expansion of Interstate 295, and the work being done by the Downtown Investment Authority. A few of the city’s main development projects are taking place in East Bay Street, such as the construction the Four Seasons Hotel, the renovation of the new Jaguars’ stadium (EverBank’s ‘Stadium of the Future’), and the construction of the new building for the Museum of Science and History (MOSH).
The hotel industry tends to feed off of other industries. Whether it is for leisure or business purposes, developments in other sectors and industries generally increase the demand for hotels. Jacksonville and the Northeast Florida region are currently seeing a large amount of population growth, business expansions, and corporate relations, which means that the hotel industry is expected to see a rise in demand to the incoming traffic. A shining example of this tendency is the fact that the Four Seasons partnered with Shad Khan in order to build their luxury hotel right across the street from the Jaguars’ new stadium. The luxury hotel brand is set to open its new building in downtown Jacksonville in 2026.
“Four Seasons is incredibly proud to bring our renowned service and hospitality offering to one of the fastest-growing cities in the United States,” said Bart Carnahan, the executive vice president for global business development and portfolio management at the Four Seasons in a press release last year. “As Jacksonville continues to enhance its offerings for people to live, work, and play, we look forward to working with Mr. Khan to expand our presence in Florida and extend our long-time partnership together, contributing to the city’s bright future and achieving our shared vision of building communities and creating exceptional luxury experiences.”
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Also in a press release, owner of the Jacksonville Jaguars, Shad Khan, agreed with Carnahan. “I have immense love and respect for Jacksonville and Four Seasons alike. So, for me, it’s always been about connecting the two, because they have so much to offer each other. Four Seasons is an iconic brand that will redefine Downtown Jacksonville and provide a luxury destination that we have been unable to offer until now. Jacksonville, in turn, will offer the new Four Seasons Hotel a spectacular setting on the banks of the St. Johns River and provide our entire community a reason to rally around the Shipyards, the Stadium of the Future and the overall future of Downtown Jacksonville. I’ve said all along that Four Seasons will be a game-changer for Jacksonville, and the change begins now.”
Adding to the Four Seasons’ efforts of bringing hotel developments into Downtown Jacksonville, the AC Hotel by Marriott announced the opening of their second hotel in the city. The first AC Hotel was opened in March at the St. Johns Town Center, and the new building is slated to open in the downtown area. Meanwhile, B&B Hotels announced that it will open a second location in Jacksonville. Home2 Suites by Hilton opened in the Brooklyn area in April, and two other hotels opened this year near the Jacksonville airport; the Tru by Hilton and the TownePlace Suites by Marriott.
