St. Joe Launches Watersound Weddings & Events to Boost Asset Utilization
Event summary
- St. Joe creates Watersound Weddings & Events to centralize event planning across its hospitality portfolio.
- New business leverages existing assets to drive utilization of hotels, resorts, and venues in Bay and Walton counties.
- Watersound Weddings & Events will open a physical location at Watersound Town Center in Inlet Beach, Florida, in early 2027.
- Cheryl Walton, with nearly 20 years of experience, appointed Executive Director of the new business.
The big picture
St. Joe’s launch of Watersound Weddings & Events aligns with its strategy of creating asset-light businesses that leverage existing hospitality assets. The move comes as destination weddings and events continue to gain popularity, particularly in accessible locations like Northwest Florida. By centralizing event planning, St. Joe aims to enhance customer experience and drive additional revenue streams from its properties.
What we're watching
- Asset Utilization
- How effectively Watersound Weddings & Events can drive higher occupancy and revenue across St. Joe’s hospitality portfolio.
- Market Demand
- Whether the new business can capitalize on the growing trend of destination weddings and events in Northwest Florida.
- Execution Risk
- The pace at which the new business can integrate and streamline event planning across multiple venues and properties.