JFB Construction Holdings Awarded $6.7 Million Contract as General Contractor for Courtyard by Marriott Conversion and Remodel

Rhea-AI Summary

JFB Construction Holdings (NASDAQ: JFB) has secured a $6.7 million contract to convert and remodel an existing Holiday Inn into a Courtyard by Marriott in Melbourne, Florida. The construction project is scheduled to commence in the third quarter of 2025.

This marks JFB's second project with Marriott Hotels, signaling the company's growing presence in the hospitality development sector. CEO Joseph F. Basile, III expressed optimism that successful completion of this project could lead to additional opportunities with the nationally recognized hotel brand.

Positive

• Secured new $6.7 million contract with Marriott Hotels
• Second project with Marriott Hotels, showing growing relationship with major hospitality brand
• Potential for future contracts in hospitality sector

Negative

• None.

Construction in Melbourne, FL expected to commence in Third Quarter 2025

Lantana, Fla., May 13, 2025 (GLOBE NEWSWIRE) -- JFB Construction Holdings (Nasdaq: JFB), a construction company focused on commercial, retail, and residential property development (“JFB” or the “Company”), today announced that it has signed a contract to develop a project for Marriot Hotels in Melbourne, Florida.

The project is a conversion and remodel of an existing Holiday Inn to a Courtyard by Marriott in Melbourne, Florida. The contract is valued at $6.7 million, with construction scheduled to begin in the third quarter of 2025.

“This is JFB’s second recently announced project for Marriott Hotels and further establishes our position as growing towards becoming a leading force in the hospitality development sector,” said CEO Joseph F. Basile, III. “Courtyard by Marriott is a nationally recognized brand of hotels, and we believe that the successful completion of this project will lead to a long-term relationship and the opportunity to participate in similar additional projects in the future.”

About JFB Construction Holdings

JFB Construction Holdings (“JFB”) offers generations of combined experience in residential and commercial construction and development. Having the experience of building Multifamily communities, Shopping Centers, National Franchises, exclusive estate & equestrian homes, and over 2 million square feet of commercial and retail. JFB provides hands-on, professional expertise, which has led to the quality and production we are known for.

JFB’s reputation has been built on its clients' trust and the value it brings to each project.

JFB’s reputation has been built on its clients' trust and the value it brings to each project. JFB is proud that most of its projects are obtained through referrals and repeat customers, and that to-date it has provided general contracting and construction management services in 36 U.S. States.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements”. You can identify forward-looking statements as those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. The reader is cautioned not to rely on these forward-looking statements. Actual results could vary materially from the expectations and projections of JFB Construction. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including statements regarding the use of proceeds from the sale of our shares in the Offering; and the uncertainty regarding future commercial success. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking statements discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us, including those described in JFB Construction’s prospectus filed with the SEC. We do not undertake to update any forward-looking statement as a result of new information or future events or developments, except as required by U.S. federal securities laws.

JFB Construction Holdings Contact:
Joseph F. Basile, III
561-582-9840.
joe@jfbconstruction.net

Investor Relations Contact:
CORE IR
Mike Mason
516 222 2560
investors@jfbconstruction.net

FAQ

What is the value of JFB Construction Holdings' new Marriott contract?

JFB Construction Holdings (NASDAQ: JFB) secured a $6.7 million contract for the conversion and remodel of a Holiday Inn to a Courtyard by Marriott in Melbourne, Florida.

When will JFB Construction begin the Courtyard by Marriott project in Melbourne?

Construction is scheduled to begin in the third quarter of 2025.

What type of project is JFB Construction doing for Marriott in Melbourne, FL?

JFB Construction will convert and remodel an existing Holiday Inn into a Courtyard by Marriott hotel.

How many Marriott projects has JFB Construction worked on?

This is JFB Construction's second project with Marriott Hotels, according to the announcement.