ORLANDO, FLA. — Atlanta-based The First Fidelity Companies has arranged $300 million in financing for the 2,000-room Orlando World Center Marriott Resort & Conference Center. Located on more than 200 acres across from Disney World’s Epcot Center at the intersection of Interstate 4 and State Route 535 in Orlando, the property features more than 450,000 square feet of meeting and event space. The loan was placed on behalf of Host Hotels & Resorts with an undisclosed life insurance company.
VERO BEACH, FLA. — Vero Beach-based Kite Properties LLC has broken ground on its 83-room SpringHill Suites by Marriott development in Vero Beach. Orlando, Fla.-based Pinkerton & Laws will oversee construction, and Atlanta-based Hotel Equities will manage the property. Hotel amenities include free wireless Internet, HDTV and phones with data ports. SpringHill is expected to deliver in July 2009.
CAPTIVA ISLAND, FLA. — George Powell of NorthMarq Capital’s Miami Lakes, Fla., office recently arranged $12 million in first mortgage financing for the 137-room Tween Waters Inn on Captiva Island. Financing for the 35-year-old hotel was arranged through Security Life of Denver Insurance Co. Captiva Island-based Rochester Resorts was the borrower.
PHILADELPHIA — Starwood Hotels & Resorts Worldwide will hold the grand opening of its 136-room aloft Philadelphia Airport hotel in August. The hotel features loft-inspired guestrooms with 9-foot ceilings and oversized windows. Room amenities include a platform bed, large bathrooms, and a high-tech office and entertainment center featuring plug-and-play access to a flat-panel television. The hotel will feature a communal area and bar, a fitness center, and an indoor pool. The project was designed by David Rockwell of The Rockwell Group. Starwood is licensing the aloft brand from W Hotels.
SAN ANTONIO — Miami-based Aztec Group has secured approximately $28 million in construction financing for the development of a Courtyard and a Residence Inn in the La Cantera neighborhood of San Antonio. The two hotels will be located adjacent to The RIM, an 800-acre mixed-use development currently in the final stages of construction. The Courtyard will contain 120 rooms and the Residence Inn will contain 140 rooms. Both are set to begin construction this month. They will be developed and operated by Raleigh, N.C.-based Concord Hospitality. Boaz Ashbel and Jason Shapiro of Aztec originated the financing. Terms of the loan were not disclosed.
HOUSTON — Houston-based Valencia Group has announced plans to build a new luxury hotel at CityCentre, Midway Cos.’ 37-acre mixed-use development located between Interstate 10 and Sam Houston Tollway in Houston. The 245-room hotel will be known as Hotel Sorella; it will feature Luce, a Moroccan-style bar, as well as an open-air courtyard with a pool, cabanas and swing daybeds. Guestrooms will feature European styling, dark hardwood floors and luxury amenities. The interior designer for the project is Peter Remedios of Remedios Siembieda. The groundbreaking date was not released.
LANCASTER, CALIF. — San Antonio-based K Partners Hospitality Group LP has opened Hampton Inn & Suites in Lancaster. The first hotel of a two-hotel complex, which the company is developing, the 85-room Hampton Inn & Suites will feature a heated indoor pool, ample meeting and workspace, complimentary breakfast and On the Run Breakfast Bag and 24-hour coffee available in the lobby. The guestrooms feature Hampton’s signature double queen- and king-sized Cloud Nine beds, complimentary high-speed Internet access, free local calls and in-room movie channels. The second hotel, a 92-room Homewood Suites, is slated to open in September.
AUSTIN, TEXAS — Merrillville, Ind.-based White Lodging has broken ground for the construction of a 145-room Courtyard by Marriott in Austin. Individual rooms will include flat-screen televisions; the hotel will also contain kiosk reception stations and an interactive go-board that displays local traffic, weather and other information. Completion is scheduled to open in late 2009. White Lodging is Austin’s largest hotel owner/operator with a local portfolio of 16 hotels.
NORMAN, OKLA. — Springfield, Mo.-based John Q. Hammons Hotels & Resorts is advancing construction for the 283-room Embassy Suites Norman Hotel & Conference Center located at 2501 Conference Dr. in Norman. The 10-story building will be part of the new University North Park mixed-use development, which is located two miles away from the University of Oklahoma. In addition to the suites, the hotel will feature 75,000 square feet of flexible meeting space. The new hotel will mark John Q. Hammons’ fifth hotel in Oklahoma. The grand opening is scheduled for late October.
NEW YORK CITY — Philadelphia-based Hersha Hospitality Trust (HHT) has opened The Nu, a 93-room hotel located inside Boymelgreen Development’s condo project at the corner of Smith Street and Atlantic Avenue in Brooklyn, New York City. HHT purchased an interest in the building for $17.24 million, and has spent an additional $6 million completing the hotel. Rates are expected to range from $200 to $400 per room once the hotel is fully operational.