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Wednesday 10 April 2024

The St. Joe Company and InterMountain Management, LLC Announce the Opening of the 121-Suite Residence Inn by Marriott® Panama City Beach Pier Park

The St. Joe Company and InterMountain Management, LLC announce the opening of the 121-suite Residence Inn by Marriott Panama City Beach Pier Park (“Residence Inn”). The hotel is located at 15900 Panama City Beach Parkway, Panama City Beach, FL 32413 in the popular Pier Park® shopping and entertainment district.

Managed by InterMountain, the pet-friendly hotel features 121 studio, one-bedroom and two-bedroom guest suites with full kitchens, equipped with a full-sized refrigerator, stovetop, microwave, dishwasher and coffee maker. Complimentary amenities include hot breakfast, Wifi, on-site parking, grocery delivery services, outdoor pool and fitness center. The convenient location is ideal for families traveling on vacation as well as for business travelers, as guests will be within walking distance of the nearby Pier Park district, white sand beaches and the Frank Brown Park sports complex and event site.

Residence Inn is the second extended-stay hotel in Panama City Beach owned by a partnership of St. Joe and InterMountain, preceded by the 124-suite TownePlace Suites by Marriott® Panama City Beach Pier Park (“TownePlace Suites”).

“Our joint venture with InterMountain has produced two great Marriott-branded hotels in the popular Pier Park area,” said William Brock, Vice President of Commercial Real Estate for St. Joe. “As Panama City Beach continues to position itself as a year-round destination for families, this new hotel will provide visitors with another extended-stay option and supports our goal of having lodging and hospitality offerings to meet every traveler’s needs and price point.”

Residence Inn adds to St. Joe’s growing and varied hotel portfolio, increasing the company’s operational hotel rooms to 1,298 and providing a wide range of options at different service levels and locations. In 2023, St. Joe opened five new hotels with 2024 as the first full year of operations for these new properties. St. Joe, individually or through consolidated and unconsolidated joint ventures, now has 12 hotels in its portfolio with the addition of this Residence Inn.

"InterMountain is excited to open another hotel in Panama City Beach with our partners at The St. Joe Company," stated Dewey Weaver, Owner of InterMountain. "The positive reception of the neighboring TownePlace Suites since its opening is demonstrative of a strong demand for hotels in the Pier Park shopping and entertainment district, and we are optimistic that we will experience the same success with the Residence Inn.”

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