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GlobeSt.com EXCLUSIVE: Hilton, Marriott Vying for Piece of $350-Mil Project

DAYTONA BEACH, FL-Trammell Crow and Orlando-based Boyd Group are teaming with LA-based Carlsberg Management to create the largest oceanfront tourist redevelopment of its kind in Florida. Major hotel players want a piece of the action, GlobeSt.com has learned.

By Alex Finkelstein | Updated on May 10, 2001

DAYTONA BEACH, FL-In what is being billed as the largest oceanfront tourist redevelopment ever attempted in Florida, the city of Daytona Beach has selected Orlando-based Boyd Group and Trammell Crow Co. to team with Los Angeles-based Carlsberg Management Co. in a $350-million, 19.2-acre, mixed-use project expected to trigger a new wave of commercial development in this auto racing capital of the world. GlobeSt.com has learned that major hotel players are already vying to be a piece of the landmark project.

Tentative ground-breaking is set for fall 2002 with completion in 2007, depending on market demand for the various components. Daytona Beach is 50 miles north of Orlando.

“The project is the first of its kind in the state of Florida,” Paul Rutledge, managing director, Florida retail division, Trammell Crow, tells GlobeSt.com. “What we are building here basically is an open-air entertainment mall with various components.”

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