JACKSONVILLE, FL—SoTHERLY Hotels Inc. reportsit plans to reflag its Crowne Plaza Riverfront Jacksonville hotelhere as the DoubleTree by Hilton JacksonvilleRiverfront.

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The Williamsburg, VA-based hotel investment firm has enteredinto a 10-year franchise agreement with HiltonWorldwide to rebrand the 292-room hotel on the south bankof the St. Johns River as the DoubleTree by Hilton JacksonvilleRiverfront. The property also features 12,000 square feet ofmeeting space, a Ruth's Chris Steakhouse, and an outdoor pooloverlooking the city's Riverwalk.

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The conversion is scheduled to take place on Sept. 1, 2015,subject to the completion of certain product improvementrequirements. The hotel is currently undergoing a $5-millionrenovation, which began in early 2014 and is scheduled forcompletion in the third quarter of 2015, SoTHERLY Hotels officialssay.

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SoTHERLY Hotels CEO Drew Sims says of theplanned rebranding, "We are pleased to again partner with HiltonWorldwide in converting our Jacksonville asset to its DoubleTree byHilton brand. We believe that the brand change, coupled with afreshly renovated product offering, will help drive both top linerevenue and bottom line profits for our shareholders."

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SoTHERLY Hotels, a self-managed and self-administered lodgingREIT, has a portfolio that consists of investments in 12 hotelproperties, 11 of which are wholly-owned and comprise 2,698 rooms.The company also has a 25% interest in the Crowne Plaza HollywoodBeach Resort. Most of the company's properties operate under theHilton Worldwide, InterContinental Hotels Group, and StarwoodHotels and Resorts brands.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.