A Kissimmee hotel on West Irlo Bronson Memorial Highway sold for $4.57 million to a California-based real estate developer and will undergo 8 months of renovation soon.
The 200-plus room hotel had been operating until recently as America's Best Inn Main Gate East. It sits on 11.9 acres at 5150 W. Irlo Bronson Memorial Highway and North Poinciana Boulevard.
Rates of $49 per night were still being advertised for mid-July, though a hotel receptionist confirmed the property is closed for "total reconstruction" over the next eight months.
Property records show CHG-Independence Tower purchased the hotel property on May 29. CHG is a Florida LLC created in late May by SGI Partners, a California-based commercial real estate investor and developer with experience in multi-family, office, self-storage, hospitality and retail.
On its website, SGI lists among its other properties a 120-villa resort in Kissimmee and an 80-room hotel in Orlando, though names and locations aren't provided. Several calls by GrowthSpotter to SGI's office on Friday were not returned.
The property will likely be added to a portfolio of hotels managed by Kissimmee-based Carter Hospitality, also an affiliate of SGI Partners. Calls to Carter were not returned late on Friday.
Carter Hospitality manages Maingate Resort & Spa in Kissimmee at 7300 Irlo Bronson Memorial Highway, and Quality Suites Lake Buena Vista at 8200 Palm Parkway in Orlando, which may be the properties listed generally on SGI's website.
Built in 1982 and formerly owned by Fountain Park Partners out of Houston, Texas, the America's Best Inn Main Gate East property was last sold in 1997 for $11.2 million, according to Osceola County records.