A South Florida couple who oversaw one of the most successful hotel rebrandings in the West Kissimmee submarket has purchased a second hotel asset on the W192 tourism corridor.
California hotelier Hari Johl had owned the hotel since October 2017. He secured the Ascend franchise and renovated the first 50 rooms to bring them up to brand standards.
The new owners are working with their design team on renderings and materials. They will be looking to hire a landscape architect to enhance the exterior of the property, with an emphasis on the lakefront. They also want to install a gate to improve the security of the property.
The shape of the building is reminiscent of a cruise ship, and they want to embrace it by creating a cruise-like atmosphere.
The new owner discusses how he plans to turn a 1-star hotel into a boutique flag on Kissimmee's tourism corridor.
"We're expecting to do something very nice," Radonich said. "We want this to be one of the iconic properties on W192."
The Palazzo is one of several Lake Cecile hotels and motels to change hands in the last few years.
- In February, hotelier Susana Wong paid $5.25 million for the Howard Johnson Express Inn & Suites on Lake Cecile. Wong and her partners currently own three hotels and motels in the lake district.
- Tang Sun USA paid $4.5 million on May 25 for the Sun Inn & Suites at 5020 W. Irlo Bronson Memorial Highway.
"This location is absolutely amazing," she said. "It's just five minutes from Magic Kingdom. W192 is really cleaning up, and we want to be a part of that."
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