Emerald Hospitality Associates, based in Westlake, OH., have closed on the purchase of the Hilton Garden Inn Orlando East / UCF Area hotel. The acquisition was carried out in partnership with Nimbus Investment Fund, LP, an independent affiliate of Emerald Hospitality. The 122-room property features 24-hour fitness center, business center, outdoor pool and 1500 square feet of meeting space. The asset underwent a $2 million renovation, which included an upgrade of all guestrooms as well as public interior and exterior spaces. Located 1.5 miles from the University of Central Florida, the asset is 25 minutes away from Orlando International Airport. Terms of the sale were not disclosed.
“This is an exciting opportunity for us to enter the Orlando market as we take the reigns of this well performing hotel,” said Edward Pavente, Chief Operating Officer of Emerald Hospitality Associates.“The Hilton Garden Inn Orlando East represents our 9th Hilton Garden Inn and brings our portfolio to 24 hotels.”
