St. Augustine, Florida, January 23, 2026
Elite Hospitality has finalized the sale of the Courtyard by Marriott St. Augustine I-95 for $9.75 million to a Florida-based company. The 100-room hotel, located near key attractions including the St. Augustine Aquarium, was sold by Shaner Hotel Group. This transaction is part of a trend showcasing ongoing investor interest in the St. Augustine hospitality market and reflects the region’s economic vitality, with additional recent hotel sales indicating a strong market.
St. Augustine, Florida
Elite Hospitality Sells Hotel for $9.75 Million
Elite Hospitality has sold the Courtyard by Marriott St. Augustine I-95 hotel for $9.75 million to a Florida-based company. The 100-room hotel, located at 2075 Florida 16 in St. Augustine, is situated approximately one mile east of Interstate 95 and adjacent to the St. Augustine Aquarium. The seller was Shaner Hotel Group, based in State College, Pennsylvania, operating through Shaner Select Services Hotels IV LLC. The sale was finalized on October 29, 2024.
Details of the Sale
The Courtyard by Marriott St. Augustine I-95, built in 2009, features 100 rooms and is positioned near key attractions, including the St. Augustine Aquarium. The property was sold by Shaner Hotel Group, a Pennsylvania-based company, through its subsidiary, Shaner Select Services Hotels IV LLC. The transaction was completed on October 29, 2024, with the buyer being a Florida-based company.
Context of the Sale
This sale is part of a series of recent hotel transactions in St. Augustine. Notably, the Hotel Amalga, located at 5 Prawn St. along the San Sebastian River, was sold on December 19, 2024, for $20.5 million. Additionally, the Hyatt Place hotel at 117 Vilano Road in St. Augustine sold on December 4, 2023, for $49.5 million. These transactions reflect ongoing investor interest in the St. Augustine hospitality market.
About Elite Hospitality
Elite Hospitality is a Florida-based company involved in the development and management of hospitality properties. The company has been active in the region, with projects such as the planned Compass by Margaritaville hotel in Flagler Beach, which is expected to cost $17 million to build.
Conclusion
The sale of the Courtyard by Marriott marks a significant development in the St. Augustine hospitality sector, showcasing the continued vitality of the local economy and the appetite for investment in the area. With ongoing interest from investors, St. Augustine is poised for further growth and development in the hospitality space. Residents and potential investors alike should stay engaged with the evolving landscape of local business and economic opportunities.
FAQ
- What hotel did Elite Hospitality sell?
- Elite Hospitality sold the Courtyard by Marriott St. Augustine I-95 hotel.
- What was the sale price?
- The hotel was sold for $9.75 million.
- When was the sale completed?
- The sale was finalized on October 29, 2024.
- Who was the seller?
- The seller was Shaner Hotel Group, operating through Shaner Select Services Hotels IV LLC.
- Where is the hotel located?
- The hotel is located at 2075 Florida 16 in St. Augustine, Florida, approximately one mile east of Interstate 95 and adjacent to the St. Augustine Aquarium.
- What is the significance of this sale?
- This sale is part of a series of recent hotel transactions in St. Augustine, indicating ongoing investor interest in the region’s hospitality market.
- What other recent hotel sales have occurred in St. Augustine?
- Other recent hotel sales in St. Augustine include the Hotel Amalga, sold for $20.5 million on December 19, 2024, and the Hyatt Place hotel at 117 Vilano Road, sold for $49.5 million on December 4, 2023.
- What is Elite Hospitality’s involvement in the region?
- Elite Hospitality is involved in the development and management of hospitality properties in Florida, including the planned Compass by Margaritaville hotel in Flagler Beach, expected to cost $17 million to build.
| Feature | Details |
|---|---|
| Hotel Name | Courtyard by Marriott St. Augustine I-95 |
| Sale Price | $9.75 million |
| Location | 2075 Florida 16, St. Augustine, Florida |
| Number of Rooms | 100 |
| Seller | Shaner Hotel Group through Shaner Select Services Hotels IV LLC |
| Buyer | Florida-based company |
| Sale Completion Date | October 29, 2024 |
| Notable Nearby Attraction | St. Augustine Aquarium |
| Recent Hotel Sales in St. Augustine | Hotel Amalga sold for $20.5 million on December 19, 2024; Hyatt Place hotel at 117 Vilano Road sold for $49.5 million on December 4, 2023 |
| Elite Hospitality’s Other Projects | Planned Compass by Margaritaville hotel in Flagler Beach, expected to cost $17 million to build |
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