ORLANDO – Berkadia announces it has arranged the refinancing of Holiday Inn & Suites Orlando SW – Celebration Area, a 444-key, full-service hotel in Kissimmee, Fla. Managing Director Michael Weinberg and Associate Director Alec Fox of Berkadia Hotels & Hospitality secured the financing on behalf of the owner Palm Holdings, a hotel management and development company based in Toronto, ON.
Palm Holdings is an award-winning, family-owned group of companies that have been recognized as an industry leader in the hospitality and real estate sector with a portfoliothat consists of 20 hotels containing 3,200 keys, including 4 hotels comprising nearly 1,000 keys in the state of Florida. Palm Holdings purchased Holiday Inn & Suites Orlando SW- Celebration Area in 2017, and have since spent over $6 million on renovations, including half of the hotel keys, new elevators and refreshed common areas.
Orlando-based One Florida Bank provided the five-year term loan.
“We’ve had a longstanding relationship with Palm Holdings and the Taneja family, having advised them on a number of sales and financings domestically,” said Weinberg. ”The Orlando hospitality market’s strong recovery, showing RevPAR metrics well in excess of 2019 numbers, was a key consideration in capturing lender interest.”
Built in 1984 and renovated in 2019, the Holiday Inn & Suites Orlando SW – Celebration Area Hotel is located at 5711 West Irlo Bronson Memorial Highway. Hotel amenities include daily housekeeping, outdoor pools, a game room, the Trattoria Café, a fitness center, meeting facilities, Wi-fi and on-site parking. The hotel is proximate to many of Orlando’s lodging demand drivers including Walt Disney World Resort, Universal Studios Resort and the Orange County Convention Center.
Berkadia's Hotel & Hospitality team continues its streak of transactions in the Orlando market with the refinance of Holiday Inn & Suites. This recent achievement follows the team's Q4 2022 sale and financing of the Castle Hotel, Autograph Collection - a 213-key boutique hotel located on International Drive.
Berkadia Hotels & Hospitality combines best-in-industry innovation, knowledge and experience with the most comprehensive suite of products and services, backed by relentless customer service and support to empower clients to capitalize on the right opportunities at the greatest value. The group serves clients across the country, offering a full set of advisory, investment sales, underwriting and loan origination services and products including Life Company, Proprietary Bridge Lending and Capital Markets Advisory Services.
