Hotel & Hospitality Developments

  • Ritz-Carlton Orlando planning $6.6M in renovations to lobby, bar & more

    Ritz-Carlton Orlando planning $6.6M in renovations to lobby, bar & more

    New York-based investment firm the Blackstone Group is preparing to spend more than $6.6 million at The Ritz-Carlton Orlando, Grande Lakes this year on interior renovation work to its lobby, lobby bar and lounge, terrace area and more.  Located at 4012 Central Florida Parkway, the 14-story, 582-key...

  • Canadian developer planning $8 million multifamily conversion of W192 hotel

    Canadian developer planning $8 million multifamily conversion of W192 hotel

    Montreal-based developer Aldo Coviello said it will take a good architect, a lot of money and some magic to convert a shuttered hotel on Kissimmee's W192 corridor into a modern apartment building. But that's what he intends to do. Coviello, president of Aldo Construction, said he has a contract...

  • Lincoln Property Company pays $11M for site of Tremont Plaza tower, ballroom

    Lincoln Property Company pays $11M for site of Tremont Plaza tower, ballroom

    An affiliate of Lincoln Property Company paid $11 million on Friday for the Downtown Orlando site of its planned 28-story mixed-use Tremont Plaza tower project, acquiring with it the popular Ballroom at Church Street that could be redeveloped in the future.  Located at 225 S. Garland Ave., roughly...

  • Kissimmee resort owners planning new retail at E192 and FL Turnpike interchange

    Kissimmee resort owners planning new retail at E192 and FL Turnpike interchange

    The owners of the Flamingo Waterpark Resort on E192 at the Florida Turnpike interchange are moving forward with plans to build a shopping and lifestyle center in front of the hotel. Miami-based Blue Road paid $9 million in 2014 to buy the 245-room full-service hotel, and has invested another $2...

  • Margaritaville developer talks new signage & tech details for Kissimmee resort

    Margaritaville developer talks new signage & tech details for Kissimmee resort

    Margaritaville Resort will create a trio of landmark entrances on U.S. 192 through its sign package that will be photo-ops for years to come, developer Jim Bagley told GrowthSpotter on Thursday. "We expect to bring a Vegas-style entertainment sign package that’s very compelling and very tasteful,...

  • Lennar may expand Storey Lake with former Westgate parcel

    Lennar may expand Storey Lake with former Westgate parcel

    Lennar Homes may be looking to expand its vast Storey Lake community in Kissimmee with land previously slated for a WestGate Resorts timeshare community. The 73-acre site is immediately south of Storey Lake, and behind the Super Target on W192 in Kissimmee. Lennar has a purchase contract for the...

  • I-Drive hotel owner has prime commercial outparcel, looking for CRE broker

    I-Drive hotel owner has prime commercial outparcel, looking for CRE broker

    Tampa-area hotelier Ben Mallah is still in the market for a local CRE broker to help him "find the right fit" for an outparcel he's creating in front of the  Four Points by Sheraton Orlando on North International Drive. "Calling all brokers," Mallah told GrowthSpotter on Monday. "I don't care if...

  • Osceola negotiating with Salamander Hotels for expansion of Reunion Grande

    Osceola negotiating with Salamander Hotels for expansion of Reunion Grande

    Oscoela County officials are in preliminary discussions with Reunion Resort management for a conference hotel expansion and luxury spa valued at more than $100 million at the Four Corners golf resort. "For Salamander, we focus on luxury, and that means minimum four-star," said Prem Devadas, president...

  • Universal seeks Wet n' Wild site redevelopment for 4,000 hotel rooms

    Universal seeks Wet n' Wild site redevelopment for 4,000 hotel rooms

    Universal Orlando filed a framework master plan on Monday to redevelop its shuttered Wet 'n Wild property with up to 4,000 hotel rooms. Located at 6200 International Dr., 64.6 acres that make up the former water park property lie across nine contiguous parcels, with 23.65 acres for the water park...

  • Hilton Orlando owner buys nearby land to retain water, free up pond for infill

    Hilton Orlando owner buys nearby land to retain water, free up pond for infill

    An affiliate of RIDA Development Corp., owner of the 1,418-room Hilton Orlando on the corner of Destination Parkway and International Drive, paid $3.85 million on Friday for an adjacent six acres, where it plans to divert the hotel's stormwater retention and free up more than 2 acres on the hotel...

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  • 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...

  • 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. ...

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  • 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...

  • 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...

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