InSite Group and Cube Capital Acquire Royal Plaza Hotel in the Walt Disney World Resort
Renovation and Repositioning Initiatives Expected to Commence Soon
January 17, 2012 - A joint venture between Weston, Florida-based InSite Group and London-based Cube Capital has acquired the 394-room Royal Plaza Hotel. Plans for the hotel - located in Lake Buena Vista, Fla. nearby the Downtown Disney® area of Walt Disney World Resort - include a renovation and repositioning.
"The location of the hotel within walking distance of the Downtown Disney area, one of Walt Disney World Resort's most sought-after visitor entertainment destinations, makes it a great opportunity for us," said Ben Shmul, President and CEO of InSite Group. "It's a good hotel now. When we have completed the planned renovations, we will transform and reposition the property into one of the area's most desirable places to stay when visiting Walt Disney World Resort and other attractions in Orlando."
This is the third joint venture acquisition between InSite Group and Cube Capital. Together, InSite and Cube own the AAA Four Diamond B Ocean Fort Lauderdale and the Continental South Beach which is currently undergoing a renovation and will be rebranded as B South Beach under the B Hotels and Resorts flag.
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