Buena Vista/UrbanAmerica Acquire Orlando Hotel

Buena Vista Hospitality Group/UrbanAmerica Joint Venture Acquires 1,100-Room Orlando Resort Resort l

. October 14, 2008

ORLANDO, September 28, 2006. Buena Vista Hospitality Group, an international resort development and management company, and its joint venture partner, UrbanAmerica, a national real estate private equity firm, have acquired the Sheraton World Orlando Resort. The 1,100-room property, located on International Drive in the heart of Orlando's Convention area, will be renamed the International Plaza Resort & Spa.

"We're delighted to partner with Buena Vista Hospitality Group on our first venture in the condo-hospitality marketplace," said UrbanAmerica President and CEO, Richmond McCoy. "The International Plaza Resort & Spa is a welcome addition to our large existing portfolio in Florida, currently valued at $150 million, representing approximately 1.5 million square feet of real estate in nine cities."

"We welcome UrbanAmerica as our partner," said Mike Frost, CEO of Buena Vista Hospitality Group. "We know we can look forward to great success with UrbanAmerica, which has been active in many Florida markets since 2000."

The International Plaza Resort & Spa will remain open as the partnership plans for the re-branding of the resort as a luxury, tropically-themed destination condo-hotel. The property, which is next door to Sea World Orlando, two minutes from the Orlando Convention Center and only minutes from the city's other major attractions, includes a restaurant and deli, 3 swimming pools, a fitness center, spa, business center, two children's pools, playground and miniature golf course.

Subscribe to our newsletter
for more Hotel Newswire articles

Related News

Choose a Social Network!

The social network you are looking for is not available.

Close
Coming up in November 2019...

Architecture & Design: Biophilic Design

The hospitality industry is constantly evolving to meet and exceed guest expectations. As a result, hotels are always on the lookout for new ways to improve the guest experience, and architecture and design is an essential part of this equation. Bold design is often the most effective way to make an exceptional first impression - an impression guests use to distinguish between brands. One design trend that is being embraced worldwide has become known as “Biophilic Design.” Biophilic design is based on the concept of biophilia, which is the theory that human beings have an innate tendency to seek out nature, natural elements, and natural forms. Biophilic design is more than hotels simply adding a surplus of plants; it involves incorporating specific design elements into a hotel in order to imbue it with a sense of wellness and well-being. Some of those elements include exposure to natural lighting; views of nature and rooms with a view; natural architectural patterns; salvaged or reclaimed woods of all types; reclaimed metals; sustainably sourced stone; living green walls and vertical gardens; and direct and indirect exposure to nature. Hotels that have incorporated biophilic design into their properties are reaping the benefits associated with this trend including reduced stress responses, better air quality, lower energy costs, and more positive guest reviews. Biophilic design has also been shown to improve guest moods and to satisfy consumer demand for environmental responsibility. Savvy hotel owners and managers are aware that nature-inspired elements enhance their guests' comfort and well-being, which is why this trend is becoming so prevalent. Biophilic design is just one topic in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.