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Development Renovation

SpringHill Suites by Marriott Jacksonville Airport

Recently Sold SpringHill Suites by Marriott Jacksonville Airport to Undergo Extensive Renovations

The SpringHill Suites by Marriott Jacksonville Airport is set for extensive renovations after being purchased in a transaction facilitated by San Francisco-based HTL Hospitality Advisors.

Marriott
Jacksonville, Florida, United States

The sale of the 12-year-old, 104-room hotel at 13550 Airport Court was part of HTLHA's growing off-market practice and the fifth off-market Marriott-franchised hotel it has recently sold, according to a news release.

The unnamed buyer needed to quickly swap an investment property in order to complete a 1031 exchange (aka, like-kind exchange), the release states. Such deals are designed under Section 1031 of the Internal Revenue Code to allow proceeds from the sale of one property to be invested into another to effectively limit or avoid capital gains taxes.

Hotel Website
USA & Canada United States Florida Jacksonville
SpringHill Suites
Hotel Brand

SpringHill Suites by Marriott is the largest all-suites upscale hotel brand that is refreshingly different. With stylish surroundings that are beyond the ordinary at over 485 properties across the U.S. and Canada, guests are provided thoughtful, focused service in an uplifting atmosphere. Each spacious suite features an open, airy design that puts guests at ease, with separate living and sleeping areas.

Marriott
Franchise OrganizationBrand OwnerHotel Group

Marriott International, Inc., (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of nearly 8,200 properties under 30 leading brands spanning 138 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly awarded travel program.