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- Jan 3, 2001
Upscale hotel project unveiled
Buena Vista Corp.'s plans call for twin 30-story towers near Walt Disney World.
Christopher Boyd | Sentinel Staff Writer
Posted November 17, 2006
An Orlando developer plans to break ground early next year on a 504-room condominium hotel near Walt Disney World that would be affiliated with the Wyndham Worldwide hotel group.
Buena Vista Corp. plans to open the hotel, with twin 30-story towers, in late 2009 on Turkey Lake Road, about a mile from Disney World. The company said the project would cost about $300 million and would contain 30,000 square feet of meeting space.
"Upscale hotel products remain in high demand," said Shamanand Maharaj, Buena Vista Corp.'s president. "Our site is close to the three major theme parks, and the hotel will cater to a mix of families and conventioneers."
The project would be the first condo hotel in the Wyndham group, occupying 11 acres in a larger mixed-use project that Buena Vista is developing.
Maharaj wouldn't say what the hotel units, which would range from 550 square feet to 1,400 square feet, would cost when they are marketed to buyers. He said Buena Vista has arranged financing for the project.
"I don't want to say what we are selling at," Maharaj said. "If someone is interested, we will be ready to talk to them."
Wyndham plans to manage the waterfront hotel, which would be its third in Central Florida.
"It's a very exciting project," said Peter Strebel, president of Wyndham Hotels and Resorts. "The large hotel rooms will offer great opportunities for families."
But Strebel said Wyndham would market the hotel as a business meeting destination.
Plans for a number of large, high-end condominium hotels, including the Blue Rose on Universal Boulevard and Palazzo del Lago on International Drive, have been announced this year. Last summer, Lodging Econometrics, which monitors hotel real estate trends, said in its latest forecast that demand for condo-hotel units in Orlando and other resort markets will soon soften.
Maharaj agreed that the market is fickle, but he said his project will be built. He said he has doubts about some others.
"The market is very trendy," Maharaj said. "If everything that is planned is built, we will all be very lucky."
Christopher Boyd can be reached at cboyd@orlandosentinel.com or 407-420-5723.
Buena Vista Corp.'s plans call for twin 30-story towers near Walt Disney World.
Christopher Boyd | Sentinel Staff Writer
Posted November 17, 2006
An Orlando developer plans to break ground early next year on a 504-room condominium hotel near Walt Disney World that would be affiliated with the Wyndham Worldwide hotel group.
Buena Vista Corp. plans to open the hotel, with twin 30-story towers, in late 2009 on Turkey Lake Road, about a mile from Disney World. The company said the project would cost about $300 million and would contain 30,000 square feet of meeting space.
"Upscale hotel products remain in high demand," said Shamanand Maharaj, Buena Vista Corp.'s president. "Our site is close to the three major theme parks, and the hotel will cater to a mix of families and conventioneers."
The project would be the first condo hotel in the Wyndham group, occupying 11 acres in a larger mixed-use project that Buena Vista is developing.
Maharaj wouldn't say what the hotel units, which would range from 550 square feet to 1,400 square feet, would cost when they are marketed to buyers. He said Buena Vista has arranged financing for the project.
"I don't want to say what we are selling at," Maharaj said. "If someone is interested, we will be ready to talk to them."
Wyndham plans to manage the waterfront hotel, which would be its third in Central Florida.
"It's a very exciting project," said Peter Strebel, president of Wyndham Hotels and Resorts. "The large hotel rooms will offer great opportunities for families."
But Strebel said Wyndham would market the hotel as a business meeting destination.
Plans for a number of large, high-end condominium hotels, including the Blue Rose on Universal Boulevard and Palazzo del Lago on International Drive, have been announced this year. Last summer, Lodging Econometrics, which monitors hotel real estate trends, said in its latest forecast that demand for condo-hotel units in Orlando and other resort markets will soon soften.
Maharaj agreed that the market is fickle, but he said his project will be built. He said he has doubts about some others.
"The market is very trendy," Maharaj said. "If everything that is planned is built, we will all be very lucky."
Christopher Boyd can be reached at cboyd@orlandosentinel.com or 407-420-5723.
