The Peabody Orlando will become the Hyatt Regency Orlando.Hyatt Hotels agreed to buy the 1,641-room Peabody Orlando hotel from Belz Enterprises and Estein Associates USA Ltd. for $717 million and will rebrand the hotel as the Hyatt Regency Orlando Convention Center.

The hotel, which opened in 1985, recently underwent a $440 million renovation and expansion. The property, which has about 200,000 square feet of meetings space, will boost Hyatt's 2014 pretax earnings by about $55 million.

Hyatt has six hotels in the Orlando area, though just one, the Hyatt Regency Grand Cypress, under the Hyatt Regency brand.

Hyatt says the acquisition will be completed in October.

Follow Danny King on Twitter @dktravelweekly.

Comments

From Our Partners


From Our Partners

Seabourn Updated Logo
Rediscovering Seabourn’s Extraordinary Worlds
Register Now
Hawaiian Airlines Airplane
Hawaiian Airlines
Read More
2021 Club Med Webinar
Club Med: Rebounding with Worldwide All-Inclusives
Register Now

JDS Travel News JDS Viewpoints JDS Africa/MI