Sage Hospitality Grows Independent Hotel Portfolio With the Addition of One Ocean Resort & Spa
July 3, 2024
Denver, CO – Sage Hospitality Group is pleased to announce that Sage Investments entered into a joint venture agreement with Aspect Real Estate Group, Corner Lot, and Kelco Management and Development, closing on One Ocean Resort & Spa.
An award-winning resort in Atlantic Beach, FL, One Ocean Resort & Spa is situated across 3+ acres of highly-desirable oceanfront real estate. The property benefits from its location in the heart of Jacksonville Beaches, one of the fastest growing markets in the nation. Sage has committed to a comprehensive capital improvement plan, including an upgrade to all guest-facing areas and a repositioning of the resort in 2025 led by Sage Studio, the company’s graphic and interior design division. As part of the agreement, Sage will oversee operations of the 193-room resort, the resort spa and Azurea, the signature fine-dining restaurant. The property will be part of Sage’s Independent Collection, joining a diverse group of 18 award-winning hotels across the country, including Hotel Van Zandt, The Crawford, Asbury Ocean Club and Shinola Hotel.
“Growing our portfolio of independent, luxury and lifestyle hotels is one of our primary strategic objectives in our quest to become America’s favorite lifestyle hospitality company, and One Ocean Resort & Spa is a noteworthy new addition as our first acquisition in Florida,” said Daniel del Olmo, president of Sage Hospitality Group. “We see enormous potential in this market and are committed to thoughtfully elevating the property through a significant renovation in 2025. We couldn’t be more grateful to be partnering with Corner Lot, Kelco and Aspect on this exciting investment.”
“Corner Lot is honored to help bring a best-in-class hospitality group in Sage to the Northeast Florida region. After our recent success in partnership with Kelco on Downtown Jacksonville’s Home2Suites by Hilton, we are thrilled to transform one of Jacksonville’s most famous assets, the former Sea Turtle Inn, into a world-renowned destination hotel,” said Corner Lot CEO Andy Allen. “Jacksonville is ready for world-class hospitality and experiences. We are excited to be doing our part with this newly established partnership.”
Aspect Real Estate Group is a private commercial real estate investment firm based in Jacksonville, FL and led by principals Alex Cranberg, Cathy Cranberg and Tripp Gulliford. “Along with other dedicated local investors and two renowned operating partners, we are thrilled to reclaim One Ocean, not just as a hotel, but as a cherished community gem. With unwavering commitment, we will further elevate this beachfront hotel ensuring it remains a place where we all love to stay, play and dine,” said Alex and Cathy Cranberg, of Aspect Holdings.
Nestled between Amelia Island, Ponte Vedra and St. Augustine, One Ocean Resort & Spa is a luxury oceanfront destination in Northeast Florida. Designed to relax and inspire guests, the 193 light-filled rooms reflect the oceanfront setting, with custom-designed beds and spacious layouts, many of which offer private balconies and dramatic water views. Just steps from the resort’s doors, guests can explore the white sands of Atlantic Beach, or the Beaches Town Center. For ultimate relaxation, The Spa at One Ocean is a seaside sanctuary offering a wide range of marine-inspired treatments including massages, wraps, facials and more. The resort has garnered a number of recognitions including TripAdvisor’s “Traveler’s Choice Award,” the AAA Four-Diamond Award, “Best of Weddings” by The Knot, and the US News & World Report List of “Best Florida Resorts.”
As part of the transition, the team at Sage Restaurant Concepts will oversee all food and beverage operations at One Ocean Resort. This includes the signature restaurant Azurea, with an innovative, seafood-focused menu, as well as the Lobby Coffee and Wine Bar, poolside dining, in-room dining and events. One Ocean Resort boasts more than 10,000-square-feet of event space, including outdoor spaces, making it a popular destination for weddings and corporate groups.
