Elite Hospitality, based in Ormand Beach, has closed on the purchase of a hotel development site in Jacksonville Beach for $11 million. Located at 15 First Street North, the property has been pre-approved for a eight story tower encompassing 220 rooms. Elite Hospitality has listed the site on its website as the future home of a Margaritaville hotel. Elite owns 11 Florida hotels, including four in St. Augustine Beach, three each in Jacksonville and Daytona Beach, and one in Ormond Beach under the flags of Courtyard by Marriott, Hampton Inn, Hampton Inn & Suites, Hilton Garden Inn and Holiday Inn Express & Suites.
