If you’ve ever planned a Disney World trip, you may have gone through the same existential crisis many of us have experienced — what hotel do you choose??
Whether you want to stay on Disney World property or not, it can be a really tough decision, especially when it comes to non-Disney owned hotels located on Disney property! One such resort was just sold for a cool $120.5 million, and here’s what you need to know.
The Wyndham Grand Orlando Resort Bonnet Creek is located on the southeastern side of Disney property, not far from Disney hotels like Pop Century, Caribbean Beach, and Riviera Resort. But despite being located on Disney property, it’s not actually owned by Disney, and it was just sold.
As reported by the Orlando Business Journal, Tishman, a New York real estate firm, bought the Wyndham Grand Orlando Resort Bonnet Creek for $120.5 million on March 28th. According to Orange County records, this means they paid about $301,250 per room (there are 400 rooms).
The Orlando Business Journal reported that this is not the first time Tishman has been involved in the Orlando market. Other Tishman-owned properties in Orlando include the Swan and Dolphin Resort hotels and the new Swan Reserve hotel (co-owned with MetLife), among others.
This isn’t the first big hotel deal in recent years, as the Four Seasons Resort Orlando sold for $610 million in 2021 to a Maryland-based REIT called Host Hotels & Resorts Inc. That comes out to $1.4 million per room!
Visit Orlando President and CEO Casandra Matej stated that Orlando’s average hotel occupancy rate has increased as of March, which is notable as the hotel industry continues to recover from the impact of COVID-19. Since the start of the pandemic, the week of March 13th to 19th was up by 90.5%, marking it as the “highest rate since the start of the pandemic.”
While your flight budget might have to increase, you might be looking at some new hotel deals as hotels see increased bookings! Keep following AllEars for more Disney and Florida news!
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Have you ever stayed at the Wyndham Grand Orlando Resort Bonnet Creek? Tell us in the comments!