Daphne Approves Tax Incentive For Daphne Luxury Hotel

The public rollout of a Daphne hotel project recently surfaced after the Daphne City Council unanimously approved an $8-million economic incentive to support the project, AL.com reports. 68 Ventures plans to invest $35 million to develop Hotel Fortuna, a boutique hotel and five-star restaurant. Under the proposal, 75% of the city’s portion of new property, sales and lodging taxes generated by the development will be returned to 68 Ventures. The remaining 25% will go to the city. The amount returned to 68 Ventures is capped at $8 million or paid out over 25 years. The 68-room hotel, catering to business and luxury travelers, is planned for Daphne Avenue across from the city’s post office and adjacent to Lott Park. The hotel will feature a 4,500-ft² five-star restaurant. Additional amenities include a courtyard area, fire pits and a barn-style venue space designed to host events such as graduations and wedding receptions. The announcement follows news that $5 million in federal funding secured through U.S. Sen. Katie Britt’s office will be used for infrastructure improvements within Olde Towne Daphne, where Hotel Fortuna will be built. 68 Ventures’s goal is to break ground in early 2027, with construction expected to last 18 to 24 months.