The developer plans to break ground by fall on Palazzo del Lago,a 14-story, 1,260-room hotel that will be operated by London-basedInterContinental Hotels Group as the largest InterContinental-brandproperty in its worldwide portfolio of 136 hotels in 60countries.
The $800-million hotel will be adjacent to Villas at Palazzo delLago, a planned $200-million, 994-unit residential condo communityto be housed in five 18-story towers. The 42-acre development siteis on International Drive at Lake Bryan.
The hotel component will overlook the lake. About 585 the 1,260rooms will be sold to investors at starting prices in the$400,000-per-room range, according to the developer. The hotel isbeing designed for 114,000 sf of meeting space, a spa, fiverestaurants and a private beach on Lake Bryan. The resort istentatively scheduled to open in 2009.
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