Joint Venture to Build 1,400-Room Hilton Hotel in Orlando Near Orange County Convention Center; Hotel to Fulfill Need for Upscale Accommodations Near Convention Center
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Joint Venture to Build 1,400-Room Hilton Hotel in Orlando Near Orange County Convention Center; Hotel to Fulfill Need for Upscale Accommodations Near Convention Center
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2006-03-24
Hilton Hotels Corporation, Apollo Real Estate Advisors and Rida Development Corporation announced today that they have formed a joint venture to build the Hilton Orlando Convention Center. The 1,400-room hotel will fill a void in high-end hotel rooms near the Orange County Convention Center.
Located on 26.4 acres just south of the convention center, the 18-story hotel will offer direct access to the North Concourse through a pedestrian sky bridge. Apollo Real Estate Advisors and Rida Development Corporation will be the majority owners of the hotel and Hilton will manage the hotel and have a minority ownership interest. Construction of the hotel is expected to begin by the end of 2006, with completion set for 2009.
The Hilton Orlando Convention Center is poised to take advantage of a booming Orlando convention market that currently offers relatively few hotel rooms within walking distance of the convention center. With more than 130,000 square feet of meeting space, the Hilton Orlando Convention Center will offer an upscale product with adequate space and close proximity for business guests.
"The Hilton Orlando Convention Center is a true full-service hotel that will not only serve as the flagship hotel for the convention center, but will also have a great leisure and spa component, allowing both conventioneers and leisure guests the opportunity to enjoy Orlando," said Ira Mitzner, president of Rida Development Corporation.
"Hilton Hotels Corporation is proud and excited to be part of this project that will bring a much-needed convention center hotel to this vibrant market," said Matt Hart, president and chief operating officer, Hilton Hotels Corporation. "With a great location, upscale Hilton amenities, fabulous dining options, exciting leisure features on-property and Orlando's world-renowned tourism options easily accessible, the Hilton Orlando Convention Center is destined to be a great success."
The Hilton Orlando Convention Center will feature 1,400 well-appointed guestrooms, including 52 suites. The more than 130,000 square feet of meeting space will include a 50,000 square foot grand ballroom, a 30,000 square foot junior ballroom and 38 meeting rooms. The property will include a 15,000-square-foot spa and fitness center, a three-meal Italian restaurant, a fine dining restaurant, an upscale sports bar, a lobby lounge and a deli. An abundance of recreational amenities will be included on-site as well.
The Hilton Orlando Convention Center is being designed by HKS Architects in Orlando and will be built by Welbro Construction Company.
"The unique partnership with Hilton Hotels Corporation allows us to build a true team effort with Hilton, where Hilton is not only the operator, but a joint venture partner as well," said Lee Neibart, managing partner of Apollo Real Estate Advisors.
The Hilton Orlando Convention Center is not the first project in the Central Florida area for the Apollo-Rida partnership. The group is also the developer for the 1,500-acre master-planned ChampionsGate Resort, which features the 4-Diamond 730 Key Omni Orlando Resort at ChampionsGate, the Villas at ChampionsGate, 36 holes of Greg Norman-designed golf, the World Headquarters of the David Leadbetter Golf Academy and is home to the annual MBNA WorldPoints Father/Son Golf Challenge.
"Our success at ChampionsGate has taught us what is necessary in catering to both business and leisure travelers," Mitzner said. "The nature of this project allows us to create a unique amenity package that will utilize the best features of what worked at ChampionsGate, and build upon those."
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