FORT WALTON BEACH, Fla. (Sept. 26, 2013) – Woodbine Development Corporation and InterMountain Management (IMM) announced that construction is under way on a four-story, 112-room Marriott TownePlace Suites hotel overlooking Garnier Bayou in Fort Walton Beach, Fla. Included in the development is an adjacent, waterfront parcel for a to-be-identified restaurant of up to 6,000 square feet.
The project is the first to be co-developed by the two companies since they joined forces to capitalize on each organization’s respective resources in sourcing, financing and constructing. IMM will provide management services for the Marriott TownePlace Suites project, and Woodbine will oversee asset management duties. A summer 2014 opening date is planned.
“We are pleased to launch what we hope is the start of many joint hotel projects with Woodbine,” said Dewey Weaver, founder and owner of IMM.
The hotel development project marks both companies’ entry into the Northwest Florida marketplace.
“We feel very fortunate to have found such a picturesque site from which to launch our partnership with IMM,” said John Scovell, Woodbine president and CEO. “The complementary strengths of our two companies, combined with the stability of Marriott, will deliver a hotel that the Fort Walton Beach community and its visitors will be proud to embrace.”
Other members of the development team include Harrell Contracting Group of Jackson, Mississippi, Architecture + of Monroe, Louisiana, and Choctaw Engineering, Inc., of Fort Walton Beach.
The restaurant site is being marketed by Kevin Bethea of Realty House Commercial Properties, Inc., of Fort Walton Beach.
About Woodbine Development
Woodbine Development Corporation is a 40-year-old, full-service real estate company focused on development, investment/acquisition and asset management opportunities across the United States. The company specializes in hotels, resorts and golf courses; multiuse land and mixed-use developments; and real estate services provided to corporations, non-profit organizations and individuals. Woodbine has been involved with more than $2 billion in commercial real estate projects, including development, ownership and/or asset management of more than 6,500 hotel rooms, 18,000 acres of land and 126 holes of championship golf. To learn more, visit www.woodbinedevelopment.com.
About InterMountain Management (IMM)
IMM is a family-owned company focused on the development, third-party management and renovation of select-service and extended-stay hotels across the U.S. With more than 75 properties and almost 7,000 rooms across the U.S., hotel owners, developers, and guests have come to recognize the “InterMountain difference.” Over 30 years of experience in the hospitality space have made InterMountain a mainstay in the industry, and our portfolio is constantly expanding. InterMountain properties include 17 different brands within the industry’s leading hotel franchise systems.
InterMountain Management, LLC, develops, owns and operates premium brand hotel properties nationwide. In addition to owning and operating our own hotels, the company operates several premium brands for select owners on a third-party basis. To learn more, visit http://www.intermtn.biz.