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| Embassy Suites Orlando Downtown, Orlando, FL |
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| Daniel C. Peek |
ORLANDO, FL –– Holliday Fenoglio Fowler, L.P. (HFF)
announced it has closed the sale of Embassy
Suites by Hilton Orlando Downtown, a 167-room, full-service, all-suite
hotel in downtown Orlando, Florida.
HFF marketed the property on behalf of the seller, HEI
Hotels & Resorts. In their first
acquisition in the United States, Paradise Group purchased the asset free and
clear of debt and will implement a significant property improvement plan (PIP)
to enhance the customer experience and the asset’s ability to compete in the
market. BayStar Hotel Group will manage
the hotel.
Opened in 2000, Embassy Suites by Hilton Orlando
Downtown’s 167 rooms include eight executive suites and two presidential
suites.
The hotel overlooks Lake Eola
and features 6,850 square feet of indoor meeting space with an additional 3,000
square feet of flexible pre-function space, outdoor pool, fitness center,
business center, complimentary evening reception and the full-service Eola Café
restaurant.
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| Michael Weinberg |
Embassy Suites
by Hilton Orlando Downtown is located at 191 East Pine Street, which is
proximate to more than 10 million square feet of office space and adjacent to
Lake Eola Park.
With a Walk Score® index
of 92, the hotel is near restaurants, shopping, nightlife, two SunRail train
stops and popular downtown entertainment destinations, including the Amway
Center and Dr. Phillips Center for the Performing Arts.
The HFF investment sales team representing the seller
was led by senior managing director and head of HFF’s hotel group Daniel C. Peek, director Michael Weinberg and associate director
Preston Reid.
“It’s exciting to see foreign capital flow into
Central Florida and the downtown Orlando submarket,” Weinberg said. “This was Paradise’s first U.S. investment,
so it was good to be able to facilitate the transaction with a new entrant into
the market.”
For a complete copy of the company’s news
release, please contact:
Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas
77046
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