If you’re planning a trip to Florida and looking for a luxurious beachfront resort, Jupiter Beach Resort might be the perfect choice. But have you ever wondered who owns this beautiful property? In this article, we’ll explore the ownership of Jupiter Beach Resort and give you some interesting insights about its history.
History of Jupiter Beach Resort
Jupiter Beach Resort was originally built in 1973 as the Jupiter Hilton. It underwent several changes of ownership and management until it was purchased by Driftwood Hospitality Management in 2014. Driftwood is a leading hotel management company that owns and operates more than 30 hotels across the United States.
Current Ownership
In 2017, Jupiter Beach Resort was sold to Dallas-based private equity firm, Eagle Hospitality Trust. Eagle Hospitality Trust is a real estate investment trust (REIT) that specializes in owning and operating upscale hotels in the United States and Asia.
What is a Real Estate Investment Trust?
A REIT is a type of investment vehicle that invests in income-generating real estate properties like hotels, apartments, shopping centers, office buildings, etc. REITs are required by law to distribute at least 90% of their taxable income to investors as dividends.
The Future of Jupiter Beach Resort
Eagle Hospitality Trust has ambitious plans for Jupiter Beach Resort. They plan to invest $21 million in renovating and upgrading the property to make it more attractive to tourists. The renovation will include enhancements to guest rooms, public spaces, restaurants, and meeting facilities.
The new owners also plan to expand the resort’s footprint by adding more guest rooms and amenities like a spa, fitness center, and beach club. These improvements will not only benefit tourists but also create job opportunities for locals.
Conclusion
Jupiter Beach Resort has had an interesting history of ownership changes and is currently owned by Eagle Hospitality Trust, a private equity firm that specializes in upscale hotels. With its ambitious renovation plans, Jupiter Beach Resort is set to become an even more popular destination for tourists seeking a luxurious beachfront experience. Whether you’re planning a romantic getaway or a family vacation, Jupiter Beach Resort is definitely worth considering.
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