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Atlanta & Southeast  + Southeast  + Hospitality  | 
Exterior view of two- and thee-story hotel overlooking seating area and lawn anchored by large ocean wind-swept tree

New Castle Hotels & Resorts Acquires $41M Holiday Inn Resort Jekyll Island

New Castle Hotels & Resorts has acquired the Holiday Inn Resort Jekyll Island for $41 million subject to a land lease with Jekyll Island Authority, the state of GA’s managing entity. The total project cost, including planned improvements on the 158-room oceanfront property, is $48 million ($304,000 per room).

The seller is Georgia Coast Holdings LLC, and its affiliated operator NorthPointe Hospitality. Rich Lillis of Colliers arranged the off-market transaction on behalf of New Castle and pointed out that the property valuation and subsequent transaction are consistent with the trend of lodging investment capital flowing to coastal drive-to resorts at valuations exceeding pre-pandemic highs.

Holiday Inn Resort Jekyll Island is on seven acres of oceanfront property with a quarter mile of beachfront. Jekyll Island is located between Savannah and Jacksonville with 10 miles of beaches, four golf courses and an oceanfront convention center.


Inside The Story

Colliers’ Lillis

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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