Hotel & Hospitality Developments

  • Owner wants to reboot condo project next to Bahama Bay with townhomes

    Owner wants to reboot condo project next to Bahama Bay with townhomes

    The owner of a partially built condo community next to Davenport's Bahama Bay Resort wants to reboot the community by switching from condos to townhomes. ICM Development Group founder Carlos Balzola acquired the 24-acre parcel in the Westside Planned Development (PD) in 2012, and brought in additional...

  • Brazilian hotel group pays $2.4M for entitled site near I-Drive, plans indy flag

    Brazilian hotel group pays $2.4M for entitled site near I-Drive, plans indy flag

    An affiliate of Brazilian hotel owner-operators Grupo Atlantico paid $2.4 million on Tuesday to enter Orlando's tourism corridor, buying an entitled 2.35 acres southeast of the former Wet 'n Wild property with plans to develop an independent hotel. Located at 5871 Carrier Dr., the property was...

  • PRISA & Unicorp partner on plans for new Element hotel at I-Drive 360

    PRISA & Unicorp partner on plans for new Element hotel at I-Drive 360

    An affiliate of Puerto Rican developer PRISA Group is joint-venturing with Unicorp National Developments on a new Element by Westin hotel adjacent to the I-Drive 360 complex, with First Quarter 2018 eyed for groundbreaking and a construction lender sought, lead executives with both companies told...

  • Drury pays $20.5M for BW hotel near Disney Springs, will rebrand & renovate

    Drury pays $20.5M for BW hotel near Disney Springs, will rebrand & renovate

    St. Louis-based Drury Hotels is doubling down on Orlando's tourism corridor, paying $20.5 million last week for the 325-key Best Western Lake Buena Vista Resort, where it will rebrand and invest heavily in renovations to add value to what is a 45-year-old tower. Located at 2000 Hotel Plaza Blvd.,...

  • Legoland Florida plans two more hotels, new gated attraction on property

    Legoland Florida plans two more hotels, new gated attraction on property

    Legoland Florida's first two hotel ventures have been so successful, parent company Merlin Entertainments Group is planning to build at least two more hotels at the Winter Haven resort by 2024. "We want to expand accommodations," General Manager Adrian Jones told GrowthSpotter on Friday. "It’s...

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  • Park Square Homes changing course on Veranda Palms resort development

    Park Square Homes changing course on Veranda Palms resort development

    Following through with a strategic phaseout of its vacation home business, Park Square Homes is looking to split off the undeveloped phases in its Veranda Palms resort in Osceola County, and launch them as a primary residential neighborhood. Park Square won approval in 2013 for the Short Term Rental...

  • Elevation principals clean up motel on W. Colonial, consider HUD apts conversion

    Elevation principals clean up motel on W. Colonial, consider HUD apts conversion

    Principals with Orlando-based Elevation Development have spent the past year cleaning up a run-down motel west of Downtown Orlando, and are now considering a conversion to affordable apartments.  Located at 4919 W. Colonial Dr., just east of an intersection with C.R. 431, the 4.6-acre property...

  • Calypso Cay developer to add $10M self-storage facility in tourism corridor

    Calypso Cay developer to add $10M self-storage facility in tourism corridor

    Calypso Cay developer Steve Bradley has reacquired a vacant 2.2-acre parcel fronting on Vineland Road and plans to develop a $10 million self-storage facility there. Bradley is partnering with South Florida developer Stephen Hurowitz on the venture. The duo formed a limited liability company in...

  • Brazilian investors pay $31.2M+ for Maitland Sheraton, bifurcate land & bldg

    Brazilian investors pay $31.2M+ for Maitland Sheraton, bifurcate land & bldg

    A Brazilian hotel-focused private equity group paid an estimated $31.2 million on Friday for the 389-key Sheraton Orlando North Hotel in Maitland, based within the 45-building Maitland Center office park, and recovered almost half of that value by bifurcating the land and building.  Located at...

  • Kettler projects $115M investment in Celebration, rapid FL expansion

    Kettler projects $115M investment in Celebration, rapid FL expansion

    Multifamily and mixed-use developer Kettler expects its planned luxury apartment community in Celebration to be the first of several deals in Central Florida as the company looks to gain a foothold in the Greater Orlando market, CEO Robert C. Kettler told GrowthSpotter.  "This development transaction...

  • Construction near for Wyndham Garden on American Way, lender unsettled

    Construction near for Wyndham Garden on American Way, lender unsettled

    Californian real estate investor Chih "John" Yuan Yu could break ground in the third quarter on a 137-key Wyndham Garden hotel set off the northern end of International Drive, and is still negotiating with lenders for much of the estimated $20 million development cost, his broker and project manager...

  • Hotel developer has 3.5 acres off I-Drive under contract, new BW GLo flag planned

    Hotel developer has 3.5 acres off I-Drive under contract, new BW GLo flag planned

    A Brazilian real estate development group with one asset near International Drive has 3.5 acres under contract for its second, and plans to introduce Best Western's new boutique midscale flag GLō to the market.  Located north of the Publix-anchored Regency Village shopping center directly east...

  • Developer assembles land on Westwood Blvd for Tru hotel partner & more

    Developer assembles land on Westwood Blvd for Tru hotel partner & more

    Orlando-based Skorman Development and Construction has 11 acres under contract on Westwood Boulevard in Orlando's tourism corridor, and will flip 4.46 acres to a hotel developer that earned initial approval Wednesday on plans for a 259-key Tru by Hilton.  Proposed for 6461 Westwood Blvd., south...

  • Schulte Hospitality pays $23.6M+ for Castle Hotel on I-Drive

    Schulte Hospitality pays $23.6M+ for Castle Hotel on I-Drive

    Louisville-based hotel owner-operator Schulte Hospitality Group paid more than $23.6 million on Tuesday to enter the Orlando market, buying the 214-key Castle Hotel in the heart of International Drive.  Located at 8629 International Dr. just south of I-Drive 360, the property lies across Universal...

  • Kissimmee land owner & broker courting hotel next to Osceola Heritage Park

    Kissimmee land owner & broker courting hotel next to Osceola Heritage Park

    A local real estate broker has been meeting with county officials to improve access issues for a 10-acre parcel on E192 in hopes of luring a hotel to the property. Watson Commercial Realty broker Rob Keeler represents the owners, Harry and Jeanette Hinkle, who purchased the vacant land through...

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