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Vista Hospitality Buys SunSpree at 60% Discount

LAKE BUENA VISTA, FL-Molinaro Koger calls the 507-room sale the nation's largest hotel deal so far this year.

By Carl Cronan | Updated on May 14, 2008

(Carl Cronan is editor of Real EstateFlorida.)

LAKE BUENA VISTA, FL-Canadian-based Vista Hospitality Inc. has purchased the SunSpree Resort by Holiday Inn, near Walt Disney World, at a substantial discount from its previous sale price. Molinaro Koger, a Washington, DC-based hotel brokerage that marketed the property on behalf of Miami Beach-based LNR Property Corp., says the sale of the 507-room resort is the largest hotel sale so far this year.

“The SunSpree Resort was a high-profile assignment, given its size and premium destination resort location,” Ali Baheri, senior vice president of Molinaro Koger, stated in a release. The company declined to disclose the sale price, though published reports put it at $17.5 million-a 60% discount from the previous sale price of approximately $48 million in 1999.

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