The St. Joe Company anticipates completing and opening five new hotels in Florida in the first half of the year. These hotels include The Lodge 30A in Santa Rosa Beach, an 85-room boutique hotel located on Scenic Highway 30A that opened in February.
Over the next four months, the company anticipates opening the 255-suite Embassy Suites by Hilton Panama City Beach Resort and the waterfront 124-room Hotel Indigo Panama City Marina; the 107-room Home2 Suites by Hilton Santa Rosa Beach; and Camp Creek Inn in Watersound, a 75-room boutique hotel overlooking Camp Creek golf course. Once complete, these properties will more than double the number of available hotel rooms in St. Joe’s portfolio, from 531 to 1,177.
“Northwest Florida is seeing more visitors from more parts of the country than ever before,” said Andrew Czarnecki, VP, resort operations, The St. Joe Company. “The hotels that we plan to complete in 2023 are well-positioned to meet that demand.”
As detailed in St. Joe’s recently released full-year 2022 results, hospitality revenue increased by 29% to a single-year record of $97.2 million last year, as compared to $75.3 million in 2021. The company’s planned hotel openings this year will increase the number of available rooms by 122%, and represent the potential for continued strong growth in recurring revenue.
Two of the new hotel properties are located within Florida’s Scenic Highway 30A area, where the company has seen strong historic demand at its three boutique hotel properties (The Pearl Hotel, WaterColor Inn and Watersound Inn). Just west of Scenic Highway 30A, Home2 Suites by Hilton Santa Rosa Beach will offer access to the 30A corridor, as well as the undeveloped beaches and natural areas of Topsail Hill Preserve State Park. These hotels are well positioned to answer the high demand already apparent in South Walton, where, in 2021, 5.4 million visitors generated an annual economic impact of more than $7 billion, according to the company.
In Panama City Beach, the Gulf-front Embassy Suites by Hilton Panama City Beach Resort will be adjacent to the Pier Park shopping and lifestyle center. This resort is well situated to take advantage of the area’s year-round appeal, where a combination of the beaches and a lineup of events helped to generate nearly 20 million total visitor days in 2021, for more than $3 billion in total visitor spending, according to the company.
The Hotel Indigo Panama City Marina will be in downtown Panama City’s historic waterfront district, with views of both St. Andrew Bay and downtown Panama City’s central business and entertainment district. The property will feature a fifth-floor sky bar, as well as an all-day restaurant on the first floor.