ORLANDO—Report after report reveals that Florida's hotel market is ticking up. Now, HREC Investment Advisors has released a comprehensive study of hotel transactions in the Greater Orlando area for 2013.
The study covers over 500 hotels in Orange, Osceola, Seminole, Polk, and Lake Counties. For starters, the study reveals 45 hotels changed ownership in 2013. That's up from 42 in 2012.
"With the passing 2013, we have entered into a different phase of the market," says Paul Sexton, head of HREC's Orlando office. "No longer are hotel sales dominated by highly distressed assets. As exemplified by Hyatt's acquisition of the Peabody, we are going to start seeing more acquisitions by companies that want to be in Orlando for defined strategic purposes."
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