CNL Opens First Two Hotel Properties In Florida

ORLANDO— CNL Hospitality reports the opening of its first two hotel development projects in Florida, the 350-suite Residence Inn SeaWorld International Center in Orlando and the 174-room Courtyard by Marriott in Weston (Fort Lauderdale area). Both properties are owned by CNL and operated by Marriott International. “By implementing our strategy to start three or four new development projects per year, CNL is positioned to expand its acquisition pipeline and vertically integrate new hotel assets into our portfolio,” said Charlie Muller, COO/CNL Hospitality Corp. CNL Hospitality Corp. has several additional development projects underway, including the JW Marriott Desert Ridge Resort & Spa in Phoenix, Arizona, a 950-room resort being co-developed with Marriott and scheduled to open in early 2003, and the Courtyard by Marriott in Edison, New Jersey, a 146-room hotel on schedule to open in the third quarter of 2002.