Luxury Vacation Home Resort Adds 293 Residences

Nov 14, 2019 No Comments by

The Grove Resort & Water Park, a luxury vacation home destination minutes from Walt Disney World, has completed construction of its third tower, adding 293 fully furnished residences to the resort known for its state-of-the-art amenities for owners and hotel guests. The two- and three-bedroom residences are selling from $330,000 to $595,000 to buyers from all over the world.

With completion of the Sterling Tower, The Grove has delivered a total 878 condo residences in a sprawling 106-acre community. The Premier Tower, which opened in 2017, is sold out, and Marquis Tower, which opened in 2018, is nearly sold out. So far, BTI Partners, the developer of The Grove, has closed more than $200 million in sales.

 

“The Grove has been one of our most exciting developments generating high-demand from prospective buyers from all over the globe,” said Noah Breakstone, CEO of BTI Partners. “We brought to the market one of Florida’s most sophisticated vacation home resort and waterpark, and we were able to complete construction of our last phase sooner than expected. The velocity of sales speaks to the caliber of The Grove and the demand for destination resorts where owners and hotel guests can feel at home away from home and enjoy world class amenities and a waterpark just minutes away from the entrance of Walt Disney World.”

The Grove, one of Orlando’s newest vacation home communities, has become a magnet for buyers looking to capitalize on the city’s growing demand for short-term rentals. According to a study by the financial advisory firm IPX 1031, The Grove’s neighborhood, Kissimmee,  is the second per capita champion of Airbnb in the entire U.S. The demand for short-term rentals is fueled by the area’s proximity to theme park attractions such as Magic Kingdom, Epcot, Animal Kingdom and Hollywood Studios, SeaWorld and Universal Studios. The theme parks have helped attract 75 million tourists last year to the greater Orlando area, up from 72 million in 2017. Orlando continues to be the most visited city in the US.

The Grove offers owners the opportunity to place their residences in a short-term rental program to generate revenue. A turnkey management program operated by one of the world’s leading hoteliers, Benchmark Resorts & Hotels®, takes care of every aspect of owning a residence at this four-star resort. The ample condos – which come with full kitchens, living and dining areas, full-size washer/dryers, and screened patios – provide a good alternative to large families who visit the theme parks and don’t want to stay in a traditional hotel.

 

“The Grove has raised the bar for vacation home communities in Orlando,” said Kevin Mays, Chief Operating Officer of BTI Partners. “We know we have done something right when we see buyers from the US, South America, Europe and China purchase our condos even before stepping into our sales center. Compared to other key US markets, Orlando offers the best price point for properties to be placed in a short-term rental program.”

The Grove’s state-of-the-art amenities include the award-winning Surfari Water Park, offering multiple slides, a lazy river, and a FlowRider. It also has a 6,300-square-foot game room, three swimming pools, onsite spa, fitness center, high-end restaurants, large-scale grab-and-go market, lakefront pier for watersports, and three bars and lounges.

 

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Hospitality, Industry News, Multi-Family, NA
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