Two sources familiar with a pending contract to sell the Wyndham Jacksonville Riverwalk hotel and 10.38 acres that surround it said Wednesday the prospective buyer is Vantage Hospitality Group Inc., based in Coral Springs.
The sources declined to be identified because of the sensitivity of the deal.
Vantage Hospitality Group PR manager Al Cohen said in an email Wednesday night the company could “neither confirm nor deny that Vantage or any of its affiliated entities is involved.”
Created in 1999, Vantage Hospitality is a privately held company that says it is among the world’s top 10 franchises based on the more than 1,200 properties.
Its legacy brands include Americas Best Value Inn and the Lexington by Vantage collection of inns, hotels and suites that offer three- and four-star hotel owners the option to customize their property and amenities based on market niches.
Vantage Hospitality has been positioning itself for growth.
In August, it hired a new group vice president, Mark Williams, to lead the company’s midscale and upscale brands, which include Lexington Inns, Lexington Hotels, Lexington Legacy, Jameson Inns & Suites, and 3 Palms Hotels & Resorts. He is based at Vantage’s global headquarters in Coral Springs.
Williams did not return an email or phone call.
On Tuesday, owners’ representatives confirmed the 322-room Wyndham and surrounding properties, totaling about 16 acres under separate owners, were under contract to a buyer. They declined to identify the buyer.
The sale could be completed by March, pending due diligence.
The property, at 1515 Prudential Drive, was under contract last year but that buyer did not complete the deal.
The Wyndham was built in 1981 as a Sheraton. It also has operated as a Radisson.
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