Ohio hotelier pays $3.5M for I-Drive hotel pads next to SeaWorld

Toledo-based Key Hotel and Property Management paid $3.5 million on Dec. 27 for a 6.2-acre site on International Drive that's within walking distance to SeaWorld and Discovery Cove. 

Orange County approved a development plan in September for a pair of hotels on the site.

With full access to I-Drive already established by a retail strip center, the first hotel is a six-story, 135-key Hilton Home2 Suites on the southernmost 2.97 acres. Amenities on the plan are limited to an outdoor pool and patio. 

The adjacent 3.26 acres directly north are designated for a second future hotel of the same room count, with no flag noted on the plan.

The seller was seller is an affiliate of the Anheuser-Busch Foundation, former owner of the theme park.

This is one of several new hotel projects in development on I-Drive. AD1 Global is in horizontal development and will pull building permits this month on a dual-branded Aloft and Element by Westin just east of this site.

Miami-based Riviera Point Development Group is currently building a 101-key La Quinta Del Sol at 11551 I-Drive and plans a 98-keyTRYP by Wyndham next door.

Hilton has made a major expansion of its Home2 Suites brand in the Orlando market, with new hotels recently completed or under construction near the airport, on I-Drive South, at Destination Parkway, in Kissimmee next to Old Town and in downtown Orlando.

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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