Newly formed SLB Hotel Group has acquired its first hotel property after paying $8.7 million for a 197-room hotel on Kissimmee's W192 corridor, about a mile from Walt Disney World.
The Comfort Inn MainGatewas built in 1983 and sits on 4.6 acres just east of Formosa Gardens. It is a Disney "Good Neighbor Hotel."
CEO Al Borrero said the hotel had recently been renovated and was in excellent condition. SLB plans to upgrade the landscaping and irrigation. "The inside looks nice - the previous owner did a nice job," he said.
The hotel location near the the S.R. 429 interchange and its proximity to the new Margaritaville Resort and theme parks was a major selling factor.
"We like west Kissimmee," Borrero said. "They're really improving the area, and we think we're catching it on the upswing."
SLB is named for its three officers: COO Ed Swain, VP Matt Lawrence and Borrero. Swain and Lawrence have a combined 35 years of management experience with Extended Stay Hotels. Borrero, who also serves as CFO, is a financial adviser.