Hotels

The industries with the highest growth over the year in the Orlando area in March were professional and business services with 19,100 new jobs and leisure and hospitality with 10,100 new jobs.

The offering provides “an open canvas to developers for a multi-year phased development plan with a goal to jumpstart and stimulate redevelopment in the city's Urban Core,” the city states.

The mixed-use development will include 232 five-star hotel rooms, luxury for-sale residential units, approximately 10,000 square feet of retail space and a 368-space parking garage. Both the hotel and the for-sale residential units will be branded and operated by Four Seasons Hotels and Resorts.

The Smart Lab is a tech-forward approach to construction aimed at reducing costs and construction time.

Although the hotel industry has been operating at peak levels for several years, accelerated supply growth, which has been readily absorbed in most markets due to the expanding economy, has contributed to weaker than normal average room rate growth.

Summit reports that the six hotels traded will produce a net gain of $36.6 million. The six hotels in the markets of Minneapolis-St. Paul, Boston, Santa Barbara (CA), Dallas and Salt Lake City totaled 815 rooms.

InvestReal enables investors and developers to connect, research locations and validate projects in one place.

KHP will continue to acquire hotels that can benefit from enhanced branding and management, renovation and reposition hotels in need of capital, and adaptive reuse of historic buildings.