Sage Investments, in a joint venture (JV) with Aspect Real Estate Group, Corner Lot, and Kelco Management and Development, has acquired the One Ocean Resort & Spa in Florida, US.
Ashford Hospitality Trust sold the 193-room resort in Atlantic Beach for an undisclosed amount.
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The acquisition will see a comprehensive capital improvement plan slated for next year, led by Sage Studio, the company’s graphic and interior design division.
The luxury oceanfront resort will undergo upgrades to all guest-facing areas as part of this effort.
Sage Hospitality will manage the resort’s operations, including the spa and Azurea, the resort’s signature fine-dining restaurant.
The property will join Sage’s Independent Collection, which includes 18 hotels across the US.
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By GlobalDataSage Restaurant Concepts, a division of Sage Hospitality, will take charge of the food and beverage operations at the resort.
It features a signature restaurant, lobby coffee and wine bar, poolside dining, in-room dining, and event catering.
The resort also has more than 10,000ft² of event space, a fitness centre, an outdoor swimming pool, and more.
It is located near Beaches Town Centre, nestled between Amelia Island, Ponte Vedra, and St Augustine.
Sage Hospitality Group president Daniel del Olmo said: “Growing our portfolio of independent, luxury and lifestyle hotels is one of our primary strategic objectives in our quest to become America’s favourite lifestyle hospitality company, and One Ocean Resort & Spa is a noteworthy new addition as our first acquisition in Florida.”
In May, Sage Hospitality Group announced its plans to manage Hotel Vandivort, a boutique hotel in downtown Springfield, Missouri.
The group will oversee the hotel’s daily operations, including its on-site restaurant and rooftop bar.
