America’s Hostmark Hospitality Group has completed its acquisition of Florida-based all-suite luxury hotel Lake Eve Resort for an undisclosed sum, marking the further expansion of the group’s south-east region portfolio and its sixth property in the state.
Hostmark formed a joint venture with The Arden Group and Eightfold Real Estate Capital to complete the acquisition of the 364-room resort, located in a prime location in Orlando.
The joint venture has lined up an investment of about $24m to improve the hotel’s facilities, which includes upgrades to the guest rooms, lobby, exterior lighting and signage, and expanding the pool area with a new children’s water park.
Lake Eve Resort provides onsite facilities that comprise the Siddhi Bar and Grill, a heated pool, hot tub, fitness centre, sauna, game room and complimentary shuttle service to theme parks and attractions.
Other features include private balconies, fully equipped kitchens and dining areas, complimentary wireless high-speed Internet and luxury bath amenities.
Hostmark claims that each of the hotel’s one-, two- and three-bedroom suites are designed to have a lake or pool view.
Hostmark Hospitality Group president Jerome Cataldo said that the new hotel is a welcome addition to its resort management portfolio that offers the group a competitive presence with upside potential in the Orlando hospitality market.
"The Hostmark team is looking forward to working with The Arden Group and Eightfold, contributing increased asset value through effective operation of Lake Eve Resort," Cataldo said.
The hotel is located near several popular attractions, including Disney World, Universal Studios, Sea World, and the Orlando Convention Center.
Image: The 364-room Lake Eve Resort has one, two and three-bedroom suites that are designed to have a lake or pool view. Photo courtesy of Lake Eve Resort.