Marriott's total investment in the renovations and new construction could reach $150 million, hospitality industry sources familiar with Marriott's plans tell GlobeSt.com. Marriott already has invested $100 million on room and grounds renovations over the past three years, company officials confirm to GlobeSt.com.
The new space is expected to be ready for lease by 2006. The resort already is spending $22 million in re-sizing and refurbishing three existing ballrooms, the convention center atrium and several breakout meeting rooms.
The push by Marriott, Walt Disney World, Rosen Resorts and Wyndham comes as the two-year-old, 1,406-room, $450-million Gaylord Palms Resort and Convention Center continues to lead the hospitality industry pack in convention and meetings space bookings, local industry consultants tell GlobeSt.com.
Nine of the leading convention hotels in Central Florida offer a total 1.6 million sf of convention and exhibit space, almost equaling the two million sf of exhibit space at the Orange County Convention Center, industry consultants say. Gaylord Palms, a Nashville, TN-based hotel company, alone offers 400,000 sf or about 28% of the entire hotel convention space in the market.
Following Gaylord is the 329,000 combined sf at Walt Disney's Swan and Dolphin Hotels. Marriott's 214,000 sf is in third place followed by Renaissance Orlando Resort, 185,000 sf; Caribe Royale Resort, 150,000 sf; Rosen Centre, 106,000 sf; Disney Coronado Springs, 95,000 sf; Grande Lakes Orlando, 85,000 sf; and Wyndham Orlando Resort, 77,000 sf.
Other hotels are also planning convention and meeting space expansions. Disney Coronado Springs, for example, is building an 86,000-sf exhibit hall that will give the six-year-old hotel a total 220,000 sf of convention space when the new area opens in 2005, Disney officials confirm to GlobeSt.com.
Rosen Shingle Creek Resort expects to offer 250,000 sf of meeting space when this new hotel opens in south Orlando in 2006. The Wyndham Orlando Resort will be at 119,000 sf when its 42,000-sf addition is completing this year.
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