A qualified intermediary acquired The Peabody from UST Hotel Joint Venture, Ltd. in a like-kind exchange transaction for approximately $717 million (subject to standard and customary proration and closing adjustments). The 1,641-room property is now the seventh Hyatt-branded hotel in the Greater Orlando area and offers the most meeting space of any of the company’s hotels in the United States.
“We are thrilled to welcome a property of this caliber to the Hyatt Regency brand portfolio and look forward to providing Hyatt’s authentic hospitality to our loyal guests and customers,” said Tom Smith, area vice-president and general manager, Hyatt Regency Orlando. ” We are committed to delivering a high energy experience for guests at the Hyatt Regency Orlando and taking care of the details that will allow them to take care of business or recharge, whether they come to the hotel for meetings, as part of a convention or for vacation.”
The hotel has 315,000 square feet of customizable event space. Its five separate and pillar-free ballrooms include the 54,652-sq.-ft. Regency Ballroom, a 26,923-sq.-ft. Plaza International Ballroom, two junior ballrooms and 105 meeting rooms. Indoor/outdoor spaces include pool settings, a Garden Terrace and the hotel’s renowned Garden Terrace. Features include state-of-the-art technology, audiovisual production and business support capabilities, as well as banquet and catering services.
The hotel’s extensive list of amenities, include:
- direct connection to Orange County Convention Center
- 22,000-sq.-ft. spa
- three swimming pools
- 8,000-sq.-ft. fitness studio (including a 500 square foot studio dedicated to spinning)
- a variety of dining options (Napa Restaurant, Rocks, B-Line Diner, and Fiorenzo Italian Steakhouse) as well as 24-hour in-room dining