ORLANDO—The Inn at Calypso Cay, a 159-room, select-service hotel in the South Lake Buena Vista submarket in Orlando, has won the confidence of investors. HFF just arranged $8.2 million in acquisition financing for the hotel.
HFF director Michael Weinberg represented the borrower, Palm Holdings, to place the four-year, floating-rate loan with two one-year options with a national bank. Palm plans to use a portion of the proceeds to convert the hotel to a Holiday Inn Express & Suites, one of the largest hotel brands in the industry.
"Orlando hotels are benefiting from record visitation and increased spending by guests," Weinberg tells GlobeSt.com. "The hospitality market is very strong right now."
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