ORLANDO-According to Paul Sexton, vice president of HREC Investment Advisors: “if you look at the Central Florida market overall, we are back to 2007 hotel occupancies.” The market seems to be bouncing back well, he says, making the recent $4.2M sale of the 154-room Lexington Suites further evidence of the area’s revitalization.

“We have really cleared a good portion of the distressed property we have in the market -especially in the International Drive market,” Sexton says. And it seems the recent deal was no exception; the hotel property was bought by Canada Drive Hospitality, LLC from Dawn G, LLC which took ownership of the property by foreclosure in October 2010, according to a HREC release.

Additionally, Sexton explains that HREC have two other hotel properties “under construction” in the market. The area is certainly tourist-friendly and these consumers are driving a lot of business, thanks to attractions like the Wizarding World of Harry Potter theme park and proposed expansion to SeaWorld. “I think it was coincidence that Harry Potter opened when it did it - just at the right time - and kick-started everything,” Sexton says. He is optimistic about business travel also, expressing that the nearby convention center should see peak attendance in 2012. “We’re starting to run on all cylinders.”