Hilton Acquires Waldorf Astoria Orlando
Monday, March 2, 2015
Hilton Worldwide, parent company of Hilton Grand Vacations Club, has acquired the Waldorf Astoria Orlando. The hospitality group purchased the resort from the current development association: Blackstone, GEM Realty Capital, and Farallon Capital Management.Within this deal, Hilton also acquired full ownership of the Hilton Bonnet Creek timeshare resort in Orlando.
The two resorts form a 482-acre compound adjacent to Walt Disney World®. The Waldorf Astoria Orlando and Hilton Bonnet Creek resorts both opened in 2009 and have become popular destinations for families, business travelers, and general vacationers.
President and CEO of Hilton Worldwide, Christopher J. Nassetta shared, “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. 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.”
The Waldorf Astoria Orlando offers 498 guest rooms, while the Hilton Orlando Bonnet Creek features 1,000 units. The resorts feature a variety of world-class amenities such as the Waldorf Astoria Spa, 3-acre lazy river, Rees Jones championship golf course, fitness center, and multiple dining options including the Waldorf’s Bull and Bear® and Hilton’s award-winning La Luce®.
Senior Managing Partner of GEM Realty Capital, Norman Geller said, “GEM has had a longstanding relationship with Hilton Worldwide through both GEM Realty Securities and GEM Realty Properties. 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 new Waldorf Astoria resort since the original one opened 82 years prior. In just a few short years, the resort has already received 62 awards and honors, including: Travel & Leisure World’s Best, Conde Nast Traveler Gold List, TripAdvisor Certificate of Excellence, US News & World Report on Travel, and Hilton’s Connie Award.
“We are gratified by this result. This is an excellent outcome for our investors, with credit to our patient approach and collaborative work with our partners at GEM and Blackstone as well as the management team at Hilton Worldwide,” said Rocky Fried, Managing Member at Farallon.
To learn more information about Hilton Grand Vacations Club, visit SellMyTimeshareNow.com.