TownePlace Suites Hotel by Marriott — Photo by InterMountain Management LLC

The St. Joe Company (NYSE: JOE) ("St. Joe") and InterMountain Management, LLC ("InterMountain") today announce the groundbreaking for a new TownePlace Suites hotel in Panama City Beach, Florida, will take place this week.

This 124-room TownePlace Suites by Marriott will be located adjacent to Frank Brown Park and will include amenities such as a fitness center, pool, business center and more. TownePlace Suites' model offers an extended stay hotel with suites designed to provide everything travelers need to live life uninterrupted. St. Joe and InterMountain believe this hotel brand is perfectly suited for the growing family-oriented tourism market of Panama City Beach, conveniently located close to the activities associated with the area's beautiful beaches, Frank Brown Park and the Panama City Beach Aquatic Center, as well as, the shopping and entertainment center of Pier Park.

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