Hyatt Makes $1.07 Billion Sale of Hyatt Regency Orlando

Hyatt has sold one of its largest properties for $1.07 billion – and made a deal to build an even larger hotel next door.

The sale transfers ownership of Hyatt Regency Orlando and the adjacent 45 acres of land to RIDA Development Corporation and Ares Management Real Estate. Mark S. Hoplamazian, president and CEO of Hyatt, called this “the largest single-asset sale in Hyatt history.” 

Hyatt will continue operating the hotel through a long-term management agreement. The entities have also struck a deal to build a new Grand Hyatt hotel on the neighboring land.  

“We are thrilled to be working with RIDA and Ares on this transaction,” Hoplamazian said. “In collaboration with these world-class developers, we will continue driving the success of Hyatt Regency Orlando and thoughtfully expand our brand footprint in the most-visited destination in the U.S. with a new Grand Hyatt hotel.” 

With 1,641 rooms, Hyatt Regency Orlando is Hyatt’s fourth largest hotel by room count. It is connected to Orange County Convention Center, the country’s second largest convention facility, and offers its own 315,000 square-feet of event space. 

The new Grand Hyatt Orlando is expected to have 2,500 rooms and will be developed in multiple phases. Construction dates have not yet been announced. It’s also anticipated that Hyatt Regency Orlando will undergo some renovations.