Marcus & Millichap Negotiates Sale Of Kissimmee Hotel

Jan 16, 2020 No Comments by

Marcus & Millichap announced the sale of Red Lion Hotel Orlando-Kissimmee Maingate, a 516-room hospitality property located in Kissimmee, according to Scott Lunine, Regional Manager of the firm’s Miami office.

The asset sold for $17,700,000.

The buyer, a limited liability company, was secured and represented by First Vice President and Senior Director Ahmed Kabani.

Red Lion Hotel Orlando-Kissimmee Maingate is located at 7300 West Irlo Bronson Memorial Highway in Kissimmee.

 

“This property has tremendous upside because of its size and location,” stated Kabani. “The buyer has a vison and has worked hard to go through the process of converting the asset to work force housing and an operating hotel. The buyer is an established company that owns many properties throughout the Kissimmee and Orlando area.”

Built in 1974, The Red Lion Hotel sits on a large lot located in a prime location near the main entrance to Walt Disney World. The property was sold on a per key basis. The hotel is a two-story exterior corridor design, situated on a well-manicured site featuring three pools, a spa, two fitness centers, conference space, children’s playground, volleyball court and more. Additionally, the property recently opened a new Pizza Hut Express and retail space.

 

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Hospitality, Industry News, Multi-Family, NA
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