Watersound

What Watersound does

Watersound is a collection of coastal communities, hotels, resorts, and commercial properties developed and operated under The St. Joe Company (NYSE: JOE) along Northwest Florida's Gulf Coast, spanning Bay and Walton counties. The platform controls more than 100,000 acres — nearly half of which is committed to long-term conservation — and integrates residential master-planned communities (Watersound Origins, Camp Creek, Ward Creek with 1,600+ planned homesites, RiverCamps on Crooked Creek, Latitude Margaritaville Watersound), apartments and townhomes (Watersound Origins Crossings, Pier Park Crossings), the Watersound Fountains independent living community, more than ten hotel and resort properties (including Camp Creek Inn, The Lodge 30A, The Pearl Hotel, WaterColor Inn, Watersound Inn, plus Marriott- and Hilton-flagged properties), two championship golf courses under the Watersound Club private membership, a 70+ mile interconnected trail network, marinas (Point South Marina), town centers and commerce parks (Watersound Town Center, Watersound West Bay Center, Pier Park City Center, VentureCrossings, South Walton Commerce Park, Beach Commerce Park), and business services (Watersound Real Estate, Watersound Insurance, Watersound Title Agency). The underlying platform is a vertically integrated real estate development, hospitality operations, and amenity-management stack unified by shared land holdings and brand identity rather than by a software product. The business generates revenue through five streams: one-time residential real estate sales, managed hotel/resort operations, recurring club membership dues, commercial leasing, and professional services (brokerage, insurance, title). Customers span residential home buyers, vacation and resort guests, club members, commercial tenants, and healthcare/education partners (Ascension Sacred Heart, Florida State University/Tallahassee Memorial Healthcare). Go-to-market combines direct sales centers (Discovery Center, Latitude Margaritaville Sales Center), direct hotel booking, major hotel brand flag partnerships (Marriott, Hilton), third-party OTAs, and a dedicated commercial leasing team. The portfolio is supported by signature events (NYE Beach Ball Drop, 30A Songwriters Festival, Porchfest, RUN WATERSOUND) and direct flight access from 16 major US cities via Northwest Florida Beaches International Airport.

Name

Watersound

Legal name

The St. Joe Company

Website

https://watersound.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

11–50 employees

Short description

Watersound, a brand of The St. Joe Company, develops and operates master-planned coastal communities, hotels, golf clubs, marinas, and commercial properties across Northwest Florida's Gulf Coast, serving residential buyers, vacationers, club members, and commercial tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Panama City Beach

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Others

Revenue model

1. Real Estate Sales: Sale of residential lots, homes, and land within master-planned communities including Watersound Origins, Watersound Camp Creek, Ward Creek, RiverCamps, and Latitude Margaritaville Watersound.
2. Hotel & Resort Operations: Management and partnership revenue from collection of hotels and resorts including Camp Creek Inn, The Lodge 30A, The Pearl Hotel, WaterColor Inn, Watersound Inn, Embassy Suites, Hilton Garden Inn, Homewood Suites, Residence Inn, and TownePlace Suites.
3. Watersound Club Membership: Private club membership offering access to golf courses (Camp Creek, Shark's Tooth), beach clubs, sport and lifestyle amenities for members and guests of select hotels.
4. Commercial Leasing: Retail, restaurant, office and medical space leasing through Watersound Town Center, Watersound West Bay Center, Pier Park City Center, and commerce parks (South Walton Commerce Park, VentureCrossings, Beach Commerce Park).
5. Business Services: Watersound Real Estate (brokerage), Watersound Insurance (brokerage), and Watersound Title Agency (ALTA certified title services) providing comprehensive real estate services throughout Northwest Florida.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Watersound develops and operates a portfolio of coastal master-planned communities, hotels, resorts, town centers, and commerce parks along Northwest Florida's Gulf Coast. The company sells residential homesites and homes across multiple single-family and active-adult communities, operates branded and independent lodging properties, runs two championship golf courses under a private club membership program, and leases commercial space to retail, office, and medical tenants. Supporting services include an in-house real estate brokerage, insurance agency, and title company.

Product overview

Watersound is a collection of coastal communities, hospitality offerings, and commercial properties developed by The St. Joe Company along Northwest Florida's Gulf Coast. The portfolio spans residential communities (Watersound Origins, Watersound Camp Creek, Ward Creek, RiverCamps on Crooked Creek, Latitude Margaritaville Watersound), apartments and townhomes (Watersound Origins Crossings, Pier Park Crossings), hotels and resorts (The Lodge 30A, The Pearl Hotel, WaterColor Inn, Watersound Inn, Camp Creek Inn, plus Marriott and Hilton branded properties), private club facilities (Watersound Club with Camp Creek and Shark's Tooth golf courses), business services (Real Estate, Insurance, Title Agency), town centers (Watersound Town Center, West Bay Center, Pier Park City Center), commerce parks, and event venues (The Pavilion at Watersound Town Center). The offering also includes the Watersound Monarch Art Trail and Longleaf Art Park cultural attractions, plus Point South Marina locations.

Differentiator

Problem solved

Functional benefit

Brands

• Watersound Origins: Residential community offering golf, nature trails, resort-style pool, event lawns, and access to Watersound Town Center
• Watersound Camp Creek
• Watersound Club
• Watersound Town Center
• Watersound West Bay Center
• Watersound Fountains
• Watersound Real Estate
• Watersound Insurance
• Watersound Title Agency
• Point South Marina
• Latitude Margaritaville Watersound
• Ward Creek
• RiverCamps on Crooked Creek
• Camp Creek Inn
• The Lodge 30A
• The Pearl Hotel
• WaterColor Inn
• Watersound Inn
• Pier Park City Center
• VentureCrossings Enterprise Centre
• South Walton Commerce Park
• Beach Commerce Park

Products and services

• Watersound Origins

Quantifiable outcome

• 27 miles of beach at Panama City Beach plus 26 miles in South Walton
• +2 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

18 partnerships are on record, tiered core and minor.

• Point South MarinacoreStrategic or Co-development PartnerPoint South Marina operates three locations serving Watersound area boaters: West Bay (new marina planned near Highway 79 with dry barn storage, in-water slips, restaurant and ship store), Bay Point (near Gulf and Intracoastal Waterway), and Port St. Joe. Provides world-class service and access to water for fishing, sailing, paddleboarding and other water activities.
• The St. Joe CompanycoreOthersParent company of Watersound brand. St. Joe is a publicly traded real estate development company (NYSE: JOE) that develops communities, hotels, resorts, and commercial properties in Northwest Florida. All Watersound communities, amenities, and business services are operated under St. Joe's portfolio.
• Camp Creek Golf CoursecoreOthersChampionship golf course operated as part of Watersound Club, offering 18 holes of golf for members and resort guests at Camp Creek Inn.
• Shark's Tooth Golf CoursecoreOthersChampionship golf course operated as part of Watersound Club, offering 18 holes of golf for members at the Watersound Club experience.
• Florida State University Panama CityminorStrategic or Co-development PartnerFSU Panama City campus provides undergraduate and graduate programs in engineering, business, entrepreneurship, and education for Watersound residents. Part of nationally recognized research university.
• Gulf Coast State CollegeminorStrategic or Co-development PartnerCommunity-based state college providing affordable education, associate degrees, and vocational training accessible to Watersound residents.
• Ascension Sacred HeartcoreStrategic or Co-development PartnerHealthcare provider offering primary care and women's healthcare within Watersound Origins community, including routine checkups, preventive heart care, and women's imaging and screenings.
• Florida State University/Tallahassee Memorial Healthcare Medical CampuscoreStrategic or Co-development PartnerMedical campus under construction in Panama City Beach with first medical office building open and accepting patients for primary and urgent care needs.
• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorHotel partnerships including TownePlace Suites by Marriott Panama City Beach Pier Park, Residence Inn by Marriott Panama City Beach Pier Park for vacation and business travelers.
• HiltoncoreChannel Partner/ Reseller/ DistributorHotel partnerships including Embassy Suites Panama City Beach Resort, Hilton Garden Inn Panama City Airport, and Homewood Suites by Hilton Panama City Beach for family-friendly and extended stay accommodations.
• Cultural Arts Alliance of Walton CountyminorStrategic or Co-development PartnerPartner for Watersound Monarch Art Trail (WMAT), an outdoor sculpture project featuring eight original sculptures along South Watersound Parkway's mile-long walking and bike path. Supported by St. Joe Community Foundation.
• Simon Property GroupcoreChannel Partner/ Reseller/ DistributorSimon Property Group operates Pier Park shopping center (120+ stores) as part of Watersound's retail and entertainment ecosystem in Panama City Beach.
• TopgolfminorStrategic or Co-development PartnerTopgolf signed as first anchor entertainment concept for Pier Park City Center development, planned to open in 2025.
• Watermark Retirement CommunitiescoreOthersOperator of Watersound Fountains Independent Living community. 'Fountains' is a service mark of Watermark Retirement Communities used under license.
• Northwest Florida Beaches International Airport (ECP)coreOthersClosest airport to Watersound communities in Panama City Beach. Serviced by Southwest Airlines, Delta, American Airlines, and United with nonstop flights from 16 major cities.
• 30A Songwriters FestivalminorGTM or Marketing PartnerPremier songwriters festival held in January, bringing hundreds of artists and thousands of music fans to Walton County beaches. Events hosted at Watersound venues including The Pavilion at Watersound Town Center.
• 30A Wine FestivalminorGTM or Marketing PartnerAnnual five-day event in February showcasing distillers, vintners, and culinary favorites in Alys Beach, part of the broader Watersound area event calendar.
• MountainfilmminorGTM or Marketing PartnerMountainfilm on Tour brings documentary short films to Watersound, featuring adventure-packed and culturally rich content. 2-night outdoor film festival dedicated to educating and inspiring audiences.

Scale indicators16 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Five Point Holdings: Developer of FivePoint master-planned communities in California (Valencia, Irvine). Comparable to Watersound in master-planned model with residential, commercial, and amenity components within a single controlled land base.
• Crescent Communities: Master-planned community developer building mixed-use, residential, and commercial communities across the Sun Belt. Highly comparable to Watersound in business model: integrated residential, hospitality, and commercial within single planned communities.
• The Howard Hughes Holdings: Developer of large-scale master-planned communities (e.g., The Woodlands, Summerlin, Columbia, Ward Village) combining residential, commercial, and hospitality. Comparable to Watersound in land-banking strategy and integrated community model.
• Sea Island Company: Private operator of a luxury coastal resort and residential community on Georgia's Atlantic coast, with multiple hotels, golf courses, and a private club. Highly comparable to Watersound's hotel + golf + membership + residential mix in a coastal setting.
• DMB Associates: Developer of large-scale master-planned communities (DC Ranch, Silverleaf, Honolulu Hills) integrating residential, retail, and recreation. Comparable to Watersound in integrated community design and amenity-rich development.
• Talisker Club: Luxury master-planned community operator in Park City, Utah combining residential real estate, private club membership, golf, and resort amenities. Comparable to Watersound's premium membership-based community model with diverse amenity portfolio.
• Kiawah Island Real Estate: Developer and operator of Kiawah Island, a master-planned coastal residential and resort community near Charleston, SC with multiple golf courses, hotels, and private club. Directly comparable to Watersound in coastal planned-community + golf + resort model.
• Pebble Beach Resorts: Iconic coastal resort and residential community on California's Monterey Peninsula featuring luxury hotels, championship golf, and residential real estate. Comparable to Watersound's coastal luxury resort + golf + residential offering.

Broad incumbents

• Sun Communities: Operator of manufactured housing, RV resorts, and marinas across the U.S. Overlaps with Watersound's marina (Point South), RV-adjacent active-adult living, and hospitality/resort model.
• Lennar Corporation: One of the largest U.S. homebuilders with active-adult (Del Webb) and master-planned community segments. Comparable as a broad residential real estate incumbent that overlaps with Watersound's homebuilding and 55+ Latitude Margaritaville offerings.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Watersound