ORLANDO CNL Hospitality Corp. plans to purchase a $100 million Marriott Village at Little Lake Bryan in Orlando sometime later this year.
The Village is a three-hotel, 1,100-room, 38-acre complex located in the Walt Disney World area. It includes Courtyard by Marriott, Fairfield Inn by Marriott and SpringHill Suites by Marriott.
Overall, CNL is on track to acquire a total of 19 hotel properties this year, valued at $321 million in aggregate. These acquisitions will push CNL s portfolio up from $254 million in 1999 to nearly $600 million in 2000 comprising 30 hotel properties in 17 states that are either owned or under commitment to acquire. In 1999 CNL acquired 9 properties totaling over $240 million. (8/24/00)