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With boutique hotel underway, owners sell Kissimmee Quality Inn

The Quality Inn & Suites by the Parks in Kissimmee was recently renovated. This is a prototypical double room.
The Quality Inn & Suites by the Parks in Kissimmee was recently renovated. This is a prototypical double room. (Choice Hotels)

The owners of the Quality Inn & Suites by the Parks sold the hotel last week to a Japanese company to focus on developing an independent boutique hotel across the street.

Rosemont Hotels acquired the Choice branded hotel in 2014 for $4 million and sold it to Sarasa Hotels for $10.55 million. Built in 1989, the hotel has 114 rooms and is located at 2945 Entry Point Blvd., just off U.S. 192.

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Sarasa, which operates five hotels in and around Osaka, will be making its U.S. entry with the Disney-area asset. Tokyo-based Sumimoto Mitsui Banking Corp. financed the acquisition with a loan of 1.044 billion Japanese Yen, which equates to roughly $9.5 million.

One is a popular Choice Hotels extended-stay brand. The other will offer a boutique, 4-star experience with a rooftop lounge to watch Disney fireworks.

In 2018, Rosemont paid $1.78 million for the 2-acre hotel pad within the Parkview Retail Center project at W192 and Sherberth Road. The site, just north of the new CVS store, was entitled for a 120-room hotel.

Rosemont received a building permit in 2019 and has commenced construction on the 6-story Ette Hotel - a new brand created by the Canadian company that stands for “earthy, true, timeless, elegant.”

President Alex Ekbatani previously said the new $30 million hotel would have a 116 standard king and queen guest rooms and 10 suites with valet service, a full restaurant and 24-hour room service, a spa, fitness center, theater room, kids’ lounge and elegant rooftop lounge. The family-friendly hotel will not serve alcohol but will have an extensive menu of “mocktails.”

Ekbatani will personally manage the new hotel.

The Kissimmee hotel sale was the third hospitality asset – and second Quality Inn – to change hands in Osceola County since the onset of the coronavirus pandemic.

An affiliate of South Carolina-based Styx Companies bought two W192-area motels in mid-March and plans to convert both to workforce housing. The larger of the two hotels was the Quality Inn & Suites at 4978 W. Irlo Bronson Memorial Hwy.

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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