ORLANDO, FL /PRNewswire/ -- AREA Property Partners and Winston Harton Holdings, LLC announced the purchase and planned $25 million redevelopment of the Sheraton Safari Hotel and Suites (above centered photo) on Lake Buena Vista Drive in Orlando, Fla.
The seller and transaction price for the 489 key facility were not disclosed. Extensive improvements of the facility are scheduled to begin immediately, with completion anticipated by spring 2012, the firms said.
"We are very pleased to conclude this transaction and to be part of the redevelopment of Sheraton Safari Hotel and Suites," said Randy Torres, AREA partner. "It is an opportune time to reposition and reestablish the hotel as the Orlando hospitality market continues its recovery."
"A top team has been assembled to execute the Sheraton Safari's redevelopment plan in this phenomenal location," said Russ Flicker, managing partner, Winston Harton Holdings, LLC. "We are eager to create a strong presence in the Orlando market and look forward to great success with a revitalized property."
"We are delighted to enhance our footprint in Orlando with the redevelopment of Sheraton Safari," said Hoyt H. Harper II, (middle left photo) Senior Vice President for Sheraton Hotels & Resorts.
"Sheraton prides itself on instilling a sense of belonging in its guests by providing them with spacious accommodations, signature services and updated technologies that will all be present at the new Sheraton Safari."
For more information on the Sheraton Safari Hotel and Suites, please contact 1-800-325-3535 or visit http://www.sheratonsafari.com/
.
Contact:
For AREA Property Partners: Michelle Manoff, Rubenstein Public Relations, +1-212-843-8051, mmanoff@rubensteinpr.com;
For Sheraton Safari Hotel and Suites: Autumn Mayfield, The Mayfield Group, +1-850-421-9007, amayfield@the-mayfield-group.com
Web Site: http://www.areapropertypartners.com/
No comments:
Post a Comment