Across the U.S., Hotel Projects Shape Up

Key International has broken ground on the AC Hotel by Marriott Fort Lauderdale Beach. The property, which was acquired in 2016 as three adjoining land parcels that span more than a half-acre, is located in Fort Lauderdale Beach, FL, and will have 171 guestrooms and 10 stories. The development is strategically planned as the market continues to draw interest as a leading tourism destination. According to the most recent report from the Greater Fort Lauderdale Convention & Visitors Bureau, direct travel spending in the city increased 7.1% in 2017, surpassing $7.6 billion.

Sunseeker Resorts Groundbreaking to Kick Off Construction of Charlotte Harbor Resort

Allegiant’s leadership team and local officials will celebrate the groundbreaking for Sunseeker Resorts Charlotte Harbor on March 20 in Charlotte, FL. The event will signal the official start of construction for the project’s first phase. This inaugural resort under Allegiant’s Sunseeker Resorts imprint is anticipated to be a transformative, catalyst project for hospitality and tourism in Charlotte County. The resort’s initial phase will feature approximately 500 hotel rooms and more than 180 extended-stay suites. Construction is anticipated to be complete in 18-24 months.

Construction Begins on Mississippi’s First AC Hotel

Kerioth Corporation celebrated the official start of construction on the AC Hotel by Marriott and adjacent companion restaurant on March 7 in Ridgeland, MS. The $31-million combined hotel and restaurant is being built at 221 Township Ave. in Ridgeland’s The Township at Colony Park. The AC Hotel will be the fourth hotel in The Township at Colony Park and is slated to open in the fall of 2020. McKibbon Hospitality, headquartered in Tampa, FL, has been selected to operate the hotel.

EJF Capital to Develop New Moxy Hotel in Oakland, CA Opportunity Zone

EJF Capital LLC has joined Tidewater Capital and Graves Hospitality to develop Marriott International’s new Moxy hotel in the Uptown neighborhood of Oakland, CA. Uptown Oakland qualifies as an Opportunity Zone under the Tax Cuts and Jobs Act of 2017 and offers investors tax benefits to create economic growth. The planned Moxy hotel, which is slated to open in 2021, consists of 173 rooms and targets millennial travelers. EJF is providing equity capital for the project primarily from EJF OpZone Fund I LP, a fund formed by the global alternative asset manager last year specifically to invest in new-construction projects within opportunity zones. San Francisco-based real estate investment manager and developer Tidewater Capital led the effort to entitle the site and will manage the construction process.