KANSAS CITY, MO—Greene, Canfield, DeGeorge, Ltd. (GCD Hotels), a Clearwater, FL-based member of Hotel Brokers International, has arranged the sale of the Best Western International Drive – Orlando in Orlando, FL. The buyer—a South American investment company—purchased the hotel for $11 million. Tony DeGeorge, president, and Ken Olipra, VP, of GCD Hotels advised and represented the seller and the buyer in the transaction.
The hotel is a 123-room limited-service property built in 1985. It is located in the Disney area and has reported 95% occupancy for three years. The buyer plans to invest approximately $650,000 in renovations and will retain the Best Western branding.
The seller is a seasoned hotel owner with more than 20 years of experience in hotel investment, and has been involved in many real estate transactions with various brokers over the years.