Apple Hospitality REIT, has acquired 128-room Home2 Suites by Hilton Orlando Airport for $20.7m.

Located at 5445 Hazeltine National Drive in Orlando, Florida, the hotel is less than three miles from Orlando International Airport.

Apple Hospitality executive vice president and chief investment officer Nelson Knight said: “This beautiful, newly constructed Home2 Suites adds a presence for us near Florida’s busiest airport and is a great addition to our portfolio.

“Not only will the Hotel benefit from travelers visiting the many leisure attractions that Orlando and the surrounding areas are known for, the market is also home to a variety of business and educational demand generators. We secured attractive per-key pricing prior to the start of construction of the Hotel, which we believe adds meaningful value at a time when construction costs are rising.”

As per the estimates of the Greater Orlando Aviation Authority, Orlando International Airport welcomed more than 47 million passengers during the year ended 31 December 2018.

Passenger traffic at the airport grew 33% since 2014, leading to an ongoing terminal expansion and facility enhancement project that will increase the airport’s capacity for extra flights.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Besides its proximity to the airport and related businesses, the hotel is near several dining and shopping facilities as well as corporate offices, training facilities and distribution centers.

As per the data provided by STR for the year ended 31 December 2018, RevPAR for the airport area submarket of Orlando grew by 4.5% as against 2017.

After this deal, Apple Hospitality’s portfolio includes 243 hotels with over 31,000 guest rooms across 34 states.