$620M financing secured for Hyatt Regency Orlando

Rhea-AI Summary

JLL Hotels & Hospitality group has secured a $620 million acquisition financing for the Hyatt Regency Orlando, a 1,641-key AAA Four Diamond resort. The floating-rate, five-year loan was arranged through Wells Fargo, Bank of America, and Deutsche Bank for affiliates of RIDA Development and an Ares Management Real Estate fund.

The resort boasts 315,000 square feet of meeting and event space and is directly connected to the Orange County Convention Center. It offers spacious accommodations, multiple dining options, and various amenities. Located on International Drive, the property is close to major Orlando attractions, including Walt Disney World and Universal Studios. The upcoming Epic Universe theme park, set to open in 2025, is just minutes away.

Positive

• Secured $620 million in acquisition financing for a major resort property
• Strategic location near Orlando's top tourist attractions and convention center
• Extensive meeting and event space (315,000 square feet) catering to business travelers
• Proximity to upcoming Epic Universe theme park, potentially increasing future demand

Negative

• None.

News Market Reaction

+0.88%

1 alert

+0.88% News Effect

On the day this news was published, JLL gained 0.88%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

JLL Hotels & Hospitality group arranged acquisition financing for the 1,641-key convention center resort near Orlando's top tourist attractions

ORLANDO, Aug. 19, 2024 /PRNewswire/ -- JLL Hotels & Hospitality group announced today that it secured $620 million in acquisition financing for Hyatt Regency Orlando, a 1,641-key, AAA Four Diamond resort in Orlando, Florida.

JLL represented affiliates of RIDA Development Corporation and an Ares Management Real Estate fund to secure the floating-rate, five-year loan through Wells Fargo, Bank of America and Deutsche Bank on behalf of borrowers.

This premier resort offers spacious guest rooms averaging 453 square feet and suites averaging 846 square feet. The accommodations feature marble-accented bathrooms, sleeper sofas, mini-fridges and 65-inch streaming TVs.

Guests can also enjoy in a variety of amenities, including six dining options, a 24-hour fitness center, tennis courts, a spa and an outdoor pool. Furthermore, the hotel features 315,000 square feet of meeting and event space along with its three direct connections to the Orange County Convention Center ("OCCC"), the second largest convention center in the United States.

Located at 9801 International Drive, the property also provides exceptional proximity to top Orlando demand generators, such as Walt Disney World and Universal Studios. Both attractions are conveniently less than a 15-minute drive away. Additionally, Universal Orlando is constructing Epic Universe, its largest theme park in the United States spanning 750 acres, situated just minutes from the hotel. Epic Universe is set to open in 2025.

The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis, Managing Director Mike Huth and Senior Director Barnett Wu.

"We are pleased to have worked together with RIDA, Ares, and Hyatt in this transaction," said Davis. "We enjoyed working with the sponsors in their strategic vision for the future of the Orlando convention district and look forward to continuing to work with all the stakeholders in the future."

JLL's Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totaling $83 billion worldwide. The group's 370-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments. Our hotel valuation, brokerage, asset management and consultancy services have helped more hotel investors, owners and operators achieve high returns on their assets than any other real estate advisor in the world.

For more news, videos and research resources, please visit JLL's newsroom. 

About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500^® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 110,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Contact: Grace Lewis, JLL PR
Phone: +1 903 520 3478  
Email: grace.lewis@jll.com

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/620m-financing-secured-for-hyatt-regency-orlando-302225489.html

SOURCE JLL

FAQ

What is the value of the financing secured for Hyatt Regency Orlando (JLL)?

JLL Hotels & Hospitality group secured $620 million in acquisition financing for the Hyatt Regency Orlando.

How many rooms does the Hyatt Regency Orlando have (JLL)?

The Hyatt Regency Orlando is a 1,641-key resort property.

What is the duration and type of loan secured for Hyatt Regency Orlando (JLL)?

The loan secured is a floating-rate, five-year loan.

Which banks provided the financing for Hyatt Regency Orlando (JLL)?

The financing was provided by Wells Fargo, Bank of America, and Deutsche Bank.