A Miami developer will open a four-story La Quinta Del Sol hotel on International Drive in the next quarter of next year, every year a proceed to gain a foothold available in the market as Orlando tourism numbers break records.
The $39 million, 53,094-square-foot hotel at 11545 International Drive shall add 101 rooms to the spot, this year which includes already seen an archive amount of available resort rooms.
RivieraPoint Invest + Develop CEO Rodrigo Azpurua said the opening of the La Quinta, alongside another 53,647-square-foot Tryp by Wyndham project likely to open in 2020, is really a direct reaction to tourism growth in Orlando.
“Each year our hotels can help accommodate the growing amount of families arriving at Orlando,” he said in a news release. “We have been glad in order to help meet that demand, create jobs and inject huge amount of money in foreign and local capital in to the Orlando economy.”
Officials on Thursday celebrated the hotel’s topping-off ceremony, which marks the ultimate beam being positioned on a construction project.
The project represents a significant investment from the foreign developer also.
Forty-five percent of the project will be funded through the federal EB-5 immigrant investor program.
RivieraPoint has used that funding mechanism in multiple South Florida hotels and office buildings successfully.
The remainder of the La Quinta project will undoubtedly be paid for by way of a mortgage and private funds.
For days gone by many years, tourism in Orlando has seen record numbers, year with the spot welcoming 72 million visitors last.
That growth has touched off a building spree by hotel companies.
this season or are anticipated to begin with next year
At least 35 hotel expansion projects have begun, with the task likely to add 7 nearly,000 rooms in Central Florida.