With construction nearly done on the first two of seven hotels at Walt Disney World's Flamingo Crossings property, Disney and developer JL Properties are in ongoing talks for Hampton Inn & Suites as the flag for a third hotel, an executive with the hotels' management firm told GrowthSpotter.
In addition, Disney and the developer may be far enough along in talks to list Hyatt House, Hyatt Place, Residence Inn by Marriott and Hilton Garden Inn -- along with Hampton Inn -- as future hotel brands on a development site map for Flamingo Crossings.
The map was on display Tuesday at ICSC's 2015 Florida Conference & Deal Making in Orlando, in the booth of a commercial real estate broker that works with Disney Real Estate Development.
Disney first announced the 450-acre Flamingo Crossings project in 2007, which was then put on hold during the economic recession. The company sold the first two hotel-focused parcels of the property in December 2013 to an affiliate of JL Properties for just over $6.3 million.
Located half a mile from Walt Disney World's western entrance, Flamingo Crossings' hotels are meant to draw budget tourists and teams participating in events at the ESPN Wide World of Sports Complex.
Construction began in 2014 on the first two of a potential seven limited-service hotels, a SpringHill Suites by Marriott (248 rooms) and TownePlace Suites by Marriott (250 rooms), which are on pace to open in February.
Disney and JL Properties are currently discussing Hampton Inn as the flag for a third hotel, and for JL's purchase of the land, according to Stuart Newmark, operating partner with Huntsville, Ala.-based Yedla Management Company, whose affiliate Revolutionary Road Hospitality Group will be managing hotels at Flamingo Crossings for JL Properties.
If JL Properties closes that deal with Disney, it activates another year of Right of First Offer options for JL on the remaining four hotel sites, he said.
Newmark could not confirm the status of negotiations with other brands listed for Flamingo Crossings at ICSC Florida, which would cover the fourth through seventh hotels. Disney Real Estate Development and JL Properties did not respond to calls for comment Tuesday.
When fully built out in up to 10 years, Flamingo Crossings could have up to 5,000 hotel rooms and/or timeshare units, along with 500,000 square feet of retail and dining space in a village town center, The Orlando Sentinel reported last October.