Hotel & Hospitality Developments

  • Omni Orlando Resort execs foresee big payoff from expansion set to open in May

    Omni Orlando Resort execs foresee big payoff from expansion set to open in May

    Executives at the Omni Orlando Resort at ChampionsGate are expecting a big payoff from their $40 million expansion set to open on Memorial Day.   "We project that within two years, we will be running at above 70-percent occupancy," Marketing and Sales Director Jean Spaulding said on Friday. "That...

  • Chicago investor pays $6M for 26-acre resort on W192

    Chicago investor pays $6M for 26-acre resort on W192

    Chicago real estate investor Rob Jarvis paid $6 million last week for the Champions World Resort on Kissimmee's W192 tourism corridor, and is eyeing more assets in the Orlando market. The resort property sits on 26 acres west of the S.R. 429 Beltway and consists of multiple 1970s-era, two-story...

  • Alabama hotelier to break ground in April on new Home2 Suites near airport

    Alabama hotelier to break ground in April on new Home2 Suites near airport

    An Alabama hotel company that's opening three new hotels in Orlando's tourism corridor is gearing up to break ground on a fourth property near Orlando International Airport. Fast-growing LBA Properties, based in Dothan, has filed construction plans with the St. Johns River Water Management District...

  • St. Cloud seeking millions from state for downtown redevelopment projects

    St. Cloud seeking millions from state for downtown redevelopment projects

    St. Cloud City Manager Joe Helfenberger said the city is seeking millions in state funds to launch an ambitious downtown redevelopment that includes new infrastructure and the first phase of Centennial Park. Helfenberger said the city wants to convert two of its main historic brick streets -- New...

  • Miami developer named for Tru Hotel project on Westwood, south of OCCC

    Miami developer named for Tru Hotel project on Westwood, south of OCCC

    Miami-based Epelboim Development Group has produced plans for an eight-story, 259-key Tru by Hilton hotel south of the Orange County Convention Center, with the land under contract and potentially more to come.  Proposed for 6461 Westwood Blvd., the company has 4.46 acres of the parcel under contract...

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  • Elevation Development advancing Parkview project on W192

    Elevation Development advancing Parkview project on W192

    Orlando-based Elevation Development has started clearing land for the first phase of its Parkview retail project on Kissimmee's W192 tourist corridor and may have found a buyer for the 120-room hotel pad slated for Phase 2. Elevation CEO Owais Khanani told GrowthSpotter the firm is in negotiations...

  • Largo-based investor pays $21M for 3rd hotel in tourism corridor, seeks more

    Largo-based investor pays $21M for 3rd hotel in tourism corridor, seeks more

    An affiliate of Largo-based Equity Management Partners (EMP) paid a recorded $21 million on Tuesday for the 308-key Courtyard Orlando Lake Buena Vista at Vista Centre, with up to $3 million planned for renovations over the next two years, the company's founder told GrowthSpotter.  Located at 8501...

  • Local developer Liberty Investment pushes growth in self-storage & hotels

    Local developer Liberty Investment pushes growth in self-storage & hotels

    Orlando-based Liberty Investment Properties recently broke ground on its newest Central Florida self-storage facility near the Mall at Millenia, and may shift its focus for up to $40 million in new development in the coming years to more hospitality, the company's president told GrowthSpotter. ...

  • Orlando hotel sales fall in 2016 from prior peak, but fundamentals signal strong 2017

    Orlando hotel sales fall in 2016 from prior peak, but fundamentals signal strong 2017

    The Greater Orlando market reported 39 individual hotel transactions in 2016 totaling $462 million in value, figures down significantly from what was an explosive 2015, but better reflective of macroeconomic and capital market dynamics that may continue this year.  Questions loom over how commercial...

  • Tavistock plans retail center, potential hotel at Greeneway Park south of OIA

    Tavistock plans retail center, potential hotel at Greeneway Park south of OIA

    An affiliate of Tavistock Development Company filed plans on Tuesday to develop a grocer-anchored shopping center with a potential hotel directly south of Orlando International Airport, and between hundreds of acres pegged for future residential.  Located at the northwest corner of Lake Nona Boulevard...

  • Miami developer seeks GC & lender for dual-hotel project on South I-Drive

    Miami developer seeks GC & lender for dual-hotel project on South I-Drive

    Miami-based Riviera Point Development Group plans to break ground in the fourth quarter on one of two neighboring hotels on S. International Drive, and will seek a general contractor and lender in the coming months, a lead executive with the company told GrowthSpotter.  The developer filed a two-phase...

  • NJ-based investor pays $10M for hotel on Universal Blvd, third in tourism corridor

    NJ-based investor pays $10M for hotel on Universal Blvd, third in tourism corridor

    New Jersey-based owner-operator Pinnacle Hospitality Group LLC paid $10 million on Wednesday in an off-market deal for its third hotel in Orlando's tourist corridor, and may free up more capital for local acquisitions this year, managing members with the company told GrowthSpotter.  Located at...

  • New buildings planned at Disney World's Caribbean Beach Resort

    New buildings planned at Disney World's Caribbean Beach Resort

    Walt Disney Parks and Resorts is pursuing stormwater management permits that would support a new series of hotel or timeshare buildings at its Caribbean Beach Resort. Disney filed a permit application on Jan. 17 with the South Florida Water Management District for "Project 88/Caribbean Beach,"...

  • Boca Raton developer buys site near Orlando airport, plans hotel & fuel station

    Boca Raton developer buys site near Orlando airport, plans hotel & fuel station

    Boca Raton-based developer Hardial Sibia and family members paid $2.2 million earlier this month to enter the Orlando market, buying land northeast of Orlando International Airport with a future hotel and fuel station in mind.  Sibia's affiliate HDRS LLC bought an estimated 5-acre portion of the...

  • Park Square's Gupta & son pursue hotel plans in Seminole, Polk counties

    Park Square's Gupta & son pursue hotel plans in Seminole, Polk counties

    Lead executives with Orlando-based Park Square Homes continue pushing the company to diversify away from its single-family legacy, with two new hotel developments in Seminole and Polk counties a focus of the next few months.  Vishaal Gupta and father Suresh Gupta, principals with Park Square, have...

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  • Hotel on Kissimmee's W192 tourist corridor sells for $4.3M

    Hotel on Kissimmee's W192 tourist corridor sells for $4.3M

    The list of hotel sales on Kissimmee's tourism corridor continues to grow with the recent sale of the Comfort Inn on W192 for $4.3 million. The 4-story, interior corridor hotel sits on 1.4 acres at 5196 W. Irlo Bronson Memorial Hwy. Built in 2000, it has 63 rooms and previously operated as a Best...

  • New Legoland-area hotel to be built in 2017, first of two w/retail center

    New Legoland-area hotel to be built in 2017, first of two w/retail center

    Jacksonville-based developer Murphco of Florida is planning two new hotels and a shopping center on Winter Haven's Cypress Gardens Parkway, right across from Legoland Florida. The family-run business has filed construction plans with the city and Southwest Florida Water Management District for...

  • Caravan Court hotel owner seeks GC for $1.2M renovation of final 40 rooms

    Caravan Court hotel owner seeks GC for $1.2M renovation of final 40 rooms

    The owner of a Clarion Inn & Suites east of Universal Orlando is seeking a general contractor within the next 30 days to finish a property makeover that begin in 2014, but has been stalled for a year due to damage caused by an FDOT-hired contractor for the I-4 Ultimate expansion. Located at 5827...

  • Chicago investor pays $24M for Holiday Inn near Disney Springs

    Chicago investor pays $24M for Holiday Inn near Disney Springs

    Chicago-based GEM Realty Capital paid at least $24 million on Dec. 8 for the 323-key Holiday Inn Orlando-Disney Springs, doubling down on the Lake Buena Vista submarket after buying the nearby Hilton Orlando Buena Vista Palace last year for $96 million. Located at 1805 Hotel Plaza Blvd., the Holiday...

  • New owners working to renovate, reopen W192's Toscana Suites as branded hotels

    New owners working to renovate, reopen W192's Toscana Suites as branded hotels

    After sitting vacant for years, the Toscana Suites is the kind of property most investors run away from -- the very definition of blight on Kissimmee's W192 tourist corridor. It was virtually gutted, overgrown and filled with trash, a haven for squatters, and was on the verge of racking up $1,500...

  • Historic Stetson Mansion for sale

    Historic Stetson Mansion for sale

    The owners of the Historic Stetson Mansion are selling the popular tourist attraction/wedding venue.

  • Ocean City hotelier buys into Ocoee at $7M

    Ocean City hotelier buys into Ocoee at $7M

    The owner-operator of two of the largest hotels in Ocean City, Md., the Princess Bayside Beach Hotel and Princess Royale Hotel, has bought into the Greater Orlando market this week, with a $7 million purchase of Ocoee's Fairfield Inn & Suites. Located at 10791 W. Colonial Dr., the Fairfield Inn...

  • Canadian REIT pays $10M for Ocoee hotel, part of FL portfolio buy

    Canadian REIT pays $10M for Ocoee hotel, part of FL portfolio buy

    An 80-room Fairfield Inn and Suites in Ocoee that was bought for $7 million in August 2015 resold last week to a Vancouver-based real estate investment trust (REIT) for just over $10 million, a 44 percent increase for the individual seller. Located at 10971 W. Colonial Dr., the Nov. 29 sale was...

  • Investor proposes two new hotels on Phoenicia land along South I-Drive

    Investor proposes two new hotels on Phoenicia land along South I-Drive

    Port Orange-based hotel investor B.P. Sodhi filed plans Monday to develop two limited service hotels totaling 222 rooms on S. International Drive, targeting the last few undeveloped acres available from Phoenicia Development around its Orchid Bay Plaza shopping center.  Based on the east side of...

  • Historic Stetson Mansion in DeLand to hit the market this weekend

    Historic Stetson Mansion in DeLand to hit the market this weekend

    One of Florida's most historic Gilded Age mansions and top tourist attractions is on the market as of Saturday. Eleven years after they bought the Stetson Mansion and led a multi-million restoration, JT Thompson and Michael Solari are listing the mansion and wedding venue complex for $3.2 million....

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