Orlando Resort Sells for $121M
A joint-venture has acquired the 400-key, Wyndham Grand Orlando Resort Bonnet Creek near Walt Disney World.
ORLANDO, FL – A joint-venture between Tishman Realty and Cross Lake Partners have acquired the 400-key, Wyndham Grand Orlando Resort Bonnet Creek near Walt Disney World in Orlando, FL for $121 million.
The partnership acquired the upscale resort from Wyndham Hotels & Resorts.
The Wyndham Grand Orlando Resort Bonnet Creek features a spa with six private treatment rooms, a jogging trail, a fitness center, a shuttle service to Walt Disney World and 50,000 square feet of flexible event space, including three ballrooms. The resort shares six pools and two lazy rivers with the neighboring timeshare complex. It also offers six food and beverage venues, including Deep Blu Seafood Grille & Sushi, Back Bay Bar & Grill, Tesoro Cove Family Fare and Bar 1521.
Situated on 7.3 acres of land, the resort is located within two miles of Disney’s Hollywood Studios, Epcot and Disney Springs’ entertainment and retail emporium.
The asset is situated within the private development of Bonnet Creek, which features four hotels that border Walt Disney World.
JLL’s hotels & hospitality group marketed the property on behalf of the seller and closed sale. The JLL team working on behalf of the seller was led by managing director Andrew Dickey and SVP Christopher Exler.
“We’re thrilled with the result for our client, having delivered on a key strategic objective for them while transitioning a phenomenal piece of real estate to an excellent steward in Tishman,” said Exler. “With Disney World breaking all-time revenue records and the overall leisure thesis within hotel real estate, we expect the Orlando market to increasingly come into focus for investors.”
JLL hotels & hospitality group has completed $83 billion in transactions globally in the past five years, including more than 7,350 advisory, valuation and asset management assignments.