Downtown Orlando Doubletree, Orlando, FL
In December 2009 a joint venture comprised of affiliates of Cal-Coast and Glenmont Capital Management, LLC acquired the Sheraton Orlando Downtown from the property’s lender for $8M after the previous owner went into bankruptcy. With 341 rooms and 20,000 square feet of meeting space, the full service hotel is Orlando’s largest downtown hotel. The joint-venture has since invested $4M to convert the property into a DoubleTree by Hilton. In less than two years the joint-venture has successfully turned the hotel into a positive cash flowing asset. The project was financed 100% by equity and is currently unencumbered with any debt.
- Year Repositioned: 2010
- Keys: 341
- Address: 60 S Ivanhoe Boulevard, Orlando, FL