ORLANDO, FL—Hilton Worldwide has acquired the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek from a consortium including affiliates of GEM Realty Capital, Farallon Capital Management and Blackstone. The closing follows an announcement last week that Hilton Worldwide signed agreements to acquire the two hotels.
Opened in October 2009, the 498-room Waldorf Astoria Orlando and 1,000-room Hilton Orlando Bonnet Creek together form a 482-acre resort that is surrounded by a private nature preserve and is located on three sides by Walt Disney World.
The resort features a three-acre, Florida-style lazy river pool; Rees Jones-designed golf course; Waldorf Astoria Spa; a fitness center; and nearly a dozen dining and lounge options, including the Hilton Orlando Bonnet Creek’s La Luce and Waldorf Astoria Orlando’s signature restaurant, Bull and Bear.
“These two properties are a great addition to our portfolio of owned assets and a testament to the power of strong partnerships, teamwork, vision and devotion,” said Christopher J. Nassetta, president and CEO, Hilton Worldwide. “The previous ownership has played a pivotal role in the success of the Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek, and we will continue to build on their legacy of providing guests with outstanding experiences.”
“GEM has had a longstanding relationship with Hilton Worldwide through both GEM Realty Securities and GEM Realty Properties,” said Norman Geller, senior managing partner of GEM Realty Capital. “Over more than a decade, we have worked with Hilton Worldwide’s exceptional management team, and we are thrilled that Hilton Worldwide will own and continue to manage this world-class resort.”
The Waldorf Astoria Orlando was the first newly built Waldorf Astoria property since the original Waldorf was opened on the same day 82 years before.
The property’s ownership entities have worked closely together and focused on ensuring the hotel team had the tools they needed to maintain the highest standards. “Built during difficult global economic times, ownership persevered and continued the commitment to stay on course, delivering on time and on budget,” said Peter Kacheris, managing director of the resort. “They always responded to the ever-changing needs of our customers by reinvesting into the property.”