A distinctive feature at the center will be a 1,500-foot open-air walkway with moving sidewalks crossing over International Drive in south Orlando. The walkway will connect the existing 1.1 million-sf center with the expanded space.

The ongoing construction of new hotel rooms near the center are expected to escalate in the next three years, bumping up the current 100,000-room number by at least 10%. In turn, the region's room occupancy level is projected to fall to about 65% in 2003 from 72% in 1999, according to Bill Peeper, president of the Orlando/Orange County Convention & Visitors Bureau. Hotels typically break even at a 55% occupancy.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.