Orlando claims the distinction of being home to the most economically priced hotel rooms in the country but that may change a bit next year as 4,700 high-end rooms deliver in the metro area. This influx is being sparked by business travelers attending expositions at the four million-sf Orange Country Convention Center who want lodging with five-star amenities. Among the half dozen hotels slated for debut is the $37-million Westin Grand Bohemian, which will charge an average of $200 to stay for a night in one of its 250 rooms. Marriott International has a two-hotel project that will open with 1,584 rooms. One of them, with 584 rooms, will be managed by Ritz Carlton and charge an estimated average of $350 per night. The other, located next door, will feature 100,000 sf of meeting space. Walt Disney is getting in on the luxury market as well with its 1,307-room Animal Kingdom Lodge near the Animal Kingdom Park, which will bring the entertainment company's hotels operating on its property to 21.
For the full story, click on:After Years of Building Mid-Price Hotels Here, Developers See Niche in High-End Product
In the Southwest, the standout is the Denver hotel market, which boasts daily rates nearly $17 and occupancy rates up to 10% above those of competing locales. Since 1999, overall occupancy has gone from 68.2% to 70.2% and room rates have climbed from $84.76 last year to $87.84. Next year, two major hotels are scheduled to open; the 500-room, $115-million Westin at Denver International Airport and the 1,100-room, $220-room Hyatt Regency across from the Colorado Convention Center.
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