City issues permit for $4 million in Ambassador Hotel improvements | Jax Daily Record | Jacksonville Daily Record jaxdailyrecord.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jaxdailyrecord.com Daily Mail and Mail on Sunday newspapers.
The Downtown Development Review Board on July 15 approved the exterior design for AXIS Hotels LLC’s estimated $17.6 million renovation of the historic Ambassador Hotel.
The board voted 5-0 to grant AXIS final design approval for what the developer says will be a 100-room TRYP by Wyndham hotel in the 98-year-old building at 420 N. Julia St.
The hotel also will have a restaurant and lounge.
Bryan Greiner, president of AXIS parent company Augustine Development Group LLC, said the restaurant will be a “SoHo concept” with an “industrial vibe.”
Greiner said the lounge will be a small speakeasy and wine cellar.
The restaurant will be operated by Doral-based Victory Hospitality LLC owner Mark Mughabghab.
Victory Hotel Group s portfolio includes Victory Hospitality and Hay Creek Hotels.
(Victory Hotel Group)
A group of veteran hotel executives, investment bankers and capital partners (consisting of limited partnership and general partnership equity for hotel asset and hospitality company acquisitions) have formed a new hotel group.
Victory Hotel Group will consist of multiple entities under its umbrella. Victory Hospitality, through a joint venture with Equis Hotels, will focus on branded midscale and upscale assets, providing consulting services for all aspects of hotel operations, management, receivership, business development, acquisitions, project management and repositioning of assets. Hay Creek Hotels, in which VHG has taken a majority position, offers an operating and investment platform with a focus on independent and boutique hotels that are strategically located in high barriers to entry and drive-in regional destination markets.