The Wyndham Grand Orlando Resort Bonnet Creek in Orlando, adjacent to Walt Disney World, has sold for 121 million, and is among a number of recent hotel transactions.
Wyndham Grand Orlando Resort Bonnet Creek sells for $121M
JLL’s Hotels & Hospitality Group has closed the $121 million sale of Wyndham Grand Orlando Resort Bonnet Creek, a 400-key, upscale resort, bordering Walt Disney World in Orlando.
JLL marketed the property on behalf of the seller, Wyndham Hotels & Resorts. A joint venture between Tishman Realty and Cross Lake Partners acquired the asset.
Wyndham Grand Resort Orlando Bonnet Creek features 50,000 sq. ft. of flexible event space, including three ballrooms, it shares six pools and two lazy rivers with the neighboring timeshare complex, has a spa with six private treatment rooms, a jogging trail, fitness center and a shuttle service to Walt Disney World. Additionally, the resort offers six food and beverage venues, including Deep Blu Seafood Grille & Sushi, Back Bay Bar & Grill, Tesoro Cove Family Fare and Bar 1521.
The JLL Hotels & Hospitality team working on behalf of the seller was led by Managing Director Andrew Dickey and SVP Christopher Exler.
“We’re thrilled with the result for our client, having delivered on a key strategic objective for them while transitioning a phenomenal piece of real estate to an excellent steward in Tishman,” said Exler. “With Disney World breaking all-time revenue records and the overall leisure thesis within hotel real estate, we expect the Orlando market to increasingly come into focus for investors.”
Mountain View Grand Resort & Spa sold
RobertDouglas advised an institutional ownership group on the sale of the 141-room Mountain View Grand Resort & Spa.
The Mountain View Grand Resort & Spa originally opened in 1865 and is well-known for its rich history and fairytale backdrop amidst the White Mountains. The resort includes 141 guestrooms and suites, nine-hole golf course, Tower Spa, 20,000 sq. ft. of event space and other unique amenities.
“Performance at the resort achieved record revenues and profitability post-pandemic,” said Evan Hurd, principal/managing director, RobertDouglas. “Being on 1,700 acres, there are also abundant opportunities to add value with expanded capacity or uses. As a result, we witnessed robust interest from diverse buyer groups, including funds, institutional and high net worth investors.”
Marcus & Millichap arranges sale of SC Quality Inn & Suites
Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, facilitated the sale of Quality Inn & Suites Hardeeville in Hardeeville, SC.
The 99-room hospitality property sold for $5.15 million, according to Benjamin Yelm, regional manager of the firm’s offices in the Carolinas. Jack Davis, Joce Messinger, Joseph Simpson and Josh Williams, investment specialists in Marcus & Millichap’s Charleston office, had the exclusive listing to market the property on behalf of the seller, Devine Investments, LLC, and secured the undisclosed buyer.
Quality Inn & Suites Hardeeville features an array of room amenities, including direct dial phones, free WiFi and flat-screen televisions. Its common area amenities include a business center, an event space, free weekday newspaper and guest laundry facilities.
Kolter Hospitality acquires Embassy Suites by Hilton Sarasota
Kolter Hospitality, a division of The Kolter Group, has acquired the Embassy Suites by Hilton Sarasota, in Sarasota, FL.
Located in the city’s downtown district, the 18-story hotel was built in 2018 and has 180 all-suite guestrooms boasting breathtaking views of Sarasota Bay.
“This is our second hotel in Sarasota joining the Westin Sarasota, which has been a true success story,” said Scott Webb, president, Kolter Hospitality. “We loved the downtown feel of the Embassy Suites by Hilton Sarasota and are honored to add it to our growing portfolio of impressive hotels across Florida. We are extremely bullish on the Sarasota market as it is ideal for both tourism and business travel, but also one of the most beautiful destinations in Florida.”
The Embassy Suites by Hilton Sarasota has 180 suites in downtown Sarasota ranging from Studio to Queen and King Suites. The hotel offers 3,262 sq. ft. of flexible meeting space, garage parking, full-service restaurant and bar, business center, fitness center, pool and complimentary breakfast.
Kolter Hospitality currently operates 11 hotels totaling more than 1,900 keys and owns and operates three hotels on Florida’s west coast: The Westin Sarasota, Hyatt Place St. Petersburg and Hyatt Place Coconut Point in Estero.
