Hodges Ward Elliott, as the exclusive agent for the Owner, is pleased to present the strong cash flowing, 300-room World Golf Village Renaissance St. Augustine Resort, located in St. Augustine, Florida.
Strategically located just off I-95 in rapidly growing St. John’s County, the Resort is situated between St. Augustine and Jacksonville. It is the only hotel within the 6,300-acre World Golf Village, a master-planned development featuring two championship golf courses, a variety of retail offerings, and an upscale residential community.
Property Overview
| Address | 500 South Legacy Trail, St. Augustine, Florida 32092 |
| YEAR BUILT | 1998 |
| LAST RENOVATION | 2008 |
| ROOMS | 300, including 31 suites |
| FOOD & BEVERAGE |
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| Meeting Space | 45,119 SF (inclusive of 43,119 SF St. John’s Conference Center) |
| AMENITIES |
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| Parking |
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| AFFILIATION | Marriott International (license expires 6/30/2025) |
| Management | (Unencumbered) |
Investment Highlights
Fully Unencumbered Asset
Upon the expiration of the Renaissance Franchise License Agreement in June 2025, the Hotel will be unencumbered, offering maximum flexibility to a new owner. Both Marriott and Hilton are open to a wide range of full-service branding options, including legacy and soft brands.
STRONG IN-PLACE CASH FLOW
The Property continues to deliver robust cash flow, with year-end 2024 RevPAR and NOI levels surpassing those achieved in 2019, even though the Property was last renovated in 2008. A buyer’s in-place yield will be substantial, allowing for favorable financing terms and providing a solid foundation to support operations during the anticipated renovation period.
RESORT FEE ADDITION
The Property's prime location along I-95 and its placement within the World Golf Village development make it an ideal candidate for offering an enhanced resort experience. By expanding the amenity offerings—such as upgrading and enlarging the pool and pool deck and introducing a second food and beverage outlet—the Hotel could qualify for resort designation under Marriott or Hilton. This designation would allow the Property to charge a resort fee, further enhancing its revenue potential.
SUBSTANTIAL RENOVATION UPSIDE
The Hotel has not undergone a comprehensive renovation in over 15 years, leading to a decline in higher-rated group and transient business. Additionally, many groups have chosen not to return as customers due to the Property's condition. A renovation focused on upgrading the guest rooms will enable the Hotel to regain market share, especially within the group segment, and better compete with the top-performing hotels in the area.
LARGEST CONFERENCE CENTER BETWEEN ORLANDO & ATLANTA
The Renaissance offers an exceptional range of amenities, highlighted by the adjacent 43,000-square-foot St. Johns Convention Center—the largest conference facility between Atlanta and Orlando. The convention center generates substantial demand for the Hotel, with the group segment historically accounting for more than half of total room revenue. Additionally, banquet and catering operations contribute the majority of the Property’s food and beverage revenue.
Jacksonville Beach
Additional ROI Opportunities:
Add a second F&B outlet or construct a catering venue to attract more weddings/social events.
Shift the guestroom mix from 200 doubles/100 kings to 200 kings/100 doubles, taking advantage of the ADR premium associated with king rooms.
Energy savings initiatives outlined in a comprehensive report prepared by an industry-leading engineer related to water, electricity and HVAC efficiency.
The Property is entitled to add up to 100 additional rooms.
Substantial Local Growth
The I-95 / International Golf Parkway interchange, where the Renaissance is located, continues to be one of the most dynamic areas of development in St. Johns County. This region has seen an unparalleled surge in projects recently completed, under construction, or in planning, making it a hub for growth in Northeast Florida. Nearly every major U.S. homebuilder, including DR Horton, Pulte Homes, Lennar, and KB Homes, has active developments near the interchange. In addition, leading retailers including Buc-ee’s, Costco Wholesale and Bass Pro Shops have recently been added to the immediate area.
