HREC Investment Advisors arranged the sale of the 214-guestroom Autograph Collection Castle Hotel located in Orlando. The buyer was Schulte Hospitality Group in conjunction with a private equity JV partner.
Paul Sexton, VP in HREC Investment Advisors’ Orlando office, represented the seller during the transaction. The seller was Orlando Investments Holding, an entity controlled by Richard Kessler, hospitality entrepreneur and CEO of The Kessler Enterprise.
“The buyer was attracted to the property due to its location in the heart of International Drive and across the street from approximately 475 acres of land that is being readied by Universal Resorts Orlando for future development," Sexton said in a statement. "Surprisingly enough, the Castle Hotel is the only full-service Marriott-branded hotel in the International Drive submarket.”
The Autograph Collection Castle Hotel has access and visibility from both International Drive and Universal Boulevard, the two main arteries in the Orlando submarket. The hotel also benefits from its close proximity to the Orange County Convention Center, the Universal Orlando Resort and SeaWorld Orlando.
HREC is a lodging and gaming real estate advisory firm specializing in property sales, mortgage brokerage, equity/JV structuring, consulting (market studies and appraisals) and litigation support.