Xenia Hotels & Resorts buys Orlando resort for $205m
Xenia Hotels & Resorts has acquired the 815-room Hyatt Regency Grand Cypress in Orlando from an affiliate of Hyatt Hotels Corp. for $205.5 million.
The resort offers six food and beverage outlets, more than 65,000 square feet of high-end indoor and outdoor meeting and event space, a full-service spa, and preferred access to 45-holes of Jack Nicklaus signature–designed golf courses. The hotel is ideally located near high-quality demand generators including Walt Disney World theme parks, Disney Springs outdoor shopping, dining and entertainment district, the Wide World of Sports, and a myriad of public golf courses.
The hotel will continue to be managed by Hyatt, which has managed the property since its opening in 1984.
The hotel is in the Lake Buena Vista submarket of Orlando, which has consistently been the strongest submarket in Orlando in terms of occupancy, ADR and RevPAR.
Orlando is one of the most strategic and desirable places for travel and was the No. 1 most visited destination in the United States in 2015 and 2016. Additionally, Orlando is home to the second busiest and largest convention center in the country and ranked first for job growth in 2016.