Arabian Post Staff Aramco, one of the world’s leading integrated energy and chemicals companies, has signed definitive agreements to acquire a strategic minority stake in MidOcean Energy for $500 million. MidOcean Energy is a liquefied natural gas (LNG) company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors. MidOcean Energy is currently in the process of acquiring interests in four […]
The Far East and Arctic Development Corporation (FEDC) and the logistics integrator Rusatom Cargo (a part of the ROSATOM group) signed a cooperation agreement for the construction of the Western Transportation and Logistics Hub (WHUB) on the margins of the Eastern Economic Forum. The Western HUB in the Murmansk region is the infrastructural basis of the the Eurasian Container Transit (EACT) project along with a similar hub […]
Magdeburg, Germany – Rechtsanwaltskanzlei Siemer, a law firm based in Magdeburg, Germany, that specialises in the fields of social and labour law, as well as having interests in energy law, is proud to announce that its founder, Beate Siemer is celebrating achieving the milestone of being admitted to the bar for nearly 30 years. With 1 year before reaching the 30 year landmark of being admitted to […]
Hamburg, Germany – Smart Arbeitsrecht, a law firm in Hamburg, Germany, specialising in labour law, has recently launched its own client intake tool on the website to ensure security for its clients, provide quick contact to the law firm and filter relevant information for the lawyer. The client intake tool (which is based on the JavaScript web framework vue.js) covers the topics of dismissal, termination agreements and […]
By Kalyani Shankar The ongoing massive diplomatic row has brought a sudden spotlight on the Canada-India relationship. Differences emerged between the two countries after Canadian Prime Minister Justin Trudeau alleged Indian involvement in killing a separatist Sikh activist, Nijjar. Outraged, New Delhi vehemently denied the claim and dismissed it as “absurd and motivated.” On June […]
The post India-Canada Political And Diplomatic Ties Facing Serious Threat first appeared on Latest India news, analysis and reports on IPA Newspack.
Arabian Post Staff Airport Handling, a joint venture of leading global air and travel services provider dnata, has been awarded a multi-year contract by Hainan Airlines to manage its ground handling operations at Milan Malpensa Airport (MXP). The agreement will see Airport Handling provide a range of passenger, ramp and baggage services to the airline which will operate three weekly flights between Milan and Shenzhen Bao’an International […]
Sydney, Australia – NSW IT Support, a company providing world-class strategic IT leadership and hyper-efficient IT operational support since 2012, is excited to release the current 2023 Managed IT Support trends in Australia. A managed it services Sydney or managed service provider (MSP) is a third-party company that is responsible for managing and maintaining a business’s IT infrastructure and end-user systems. This includes software updates, network monitoring, […]
By Girish Linganna Prime Minister Narendra Modi is really hopeful about the India-Middle East-Europe Economic Corridor (IMEC), which he introduced at the G20 summit in New Delhi recently. However, some people think that not all countries in this project see it as something against China’s Belt and Road Initiative. Building a smooth transportation route connecting […]
The post The Proposed India-Middle East-Europe Economic Corridor Is Yet A Concept first appeared on Latest India news, analysis and reports on IPA Newspack.
JOHANNESBURG, SOUTH AFRICA – Media OutReach – 22 September 2023 – FBS, a leading global broker, and Education Africa, a renowned educational nonprofit organization, announce their collaboration to make real change happen for children and teenagers in the Johannesburg township, Orange Farm. This partnership represents a significant step towards providing quality education and equal opportunities to underserved communities. Masibambane College Students In September, FBS and Education Africa […]
Arabian Post Staff Al Yah Satellite Communications Company announced that its government services arm, Yahsat Government Solutions has received from the UAE Government an Authorization to Proceed to provide satellite capacity and managed services for 17 years. The mandate, valued at AED 18.7 billion (USD 5.1 billion), combines related operations, maintenance and technology management services of ground segment satellite systems and terminals currently provided under a separate […]
Emirates and SriLankan Airlines have signed a reciprocal interline agreement to boost connectivity for passengers of both airlines. The partnership will enable access to new points on each other’s networks via Colombo and Dubai, utilising a single ticket and enjoying the convenience of baggage transfers. Tickets are now on sale for travel effective immediately as the interline partnership unlocks 15 regional destinations operated by SriLankan Airlines […]
Pixabay CC0 License Whether starting a new business in the construction sector or looking to take your existing firm to the next level doesn’t matter. Efficiency must be a priority. Streamlining is essential in all business sectors. But it takes on an even greater significance in construction. An efficient operation should be positioned to take on more projects, build a better reputation, and see larger profits. Here’s […]
In this article, OctaFX experts describe three events investors and traders should be aware of. Learn more about the ongoing food crisis, the state of the European economy in case of energy shortages, and the impact of OPEC decisions on oil prices. KUALA LUMPUR, MALAYSIA – Media OutReach – 18 September 2023 – With the global economy weakening, you may wonder what will impact capital markets in […]
Crescent Real Estate’s acquisition of the Element Orlando Universal Blvd. marks latest addition to Crescent’s expanding premium select-service hotel portfolio.
FORT WORTH, TEXAS, UNITED STATES, September 14, 2023/EINPresswire.com/ — Through its investment vehicle – GP Invitation Fund III, LP – Crescent Real Estate LLC (Crescent) acquired the Element Orlando Universal Blvd., a 165-key hotel operated under a franchise agreement with Marriott International. Located just outside the confines of the mixed-use development known as Icon Park, Element Orlando hotel guests have immediate access to 20 acres of entertainment opportunities.
Comprised of more than 40 restaurants and retail outlets, Icon Park is an open-air complex that is strategically located along Orlando’s International Drive. The 11-mile thoroughfare plays host to Orlando’s primary attractions and is home to some of the world’s top theme parks, the nation’s leading convention center, and the 270-acre Lockheed Martin regional headquarters.
Additionally, on a site adjacent to the Element Orlando hotel, Universal Studio’s 750-acre development known as “Epic Universe” will have a resounding impact on the local economy upon its completion in 2025. While the new theme park will include three separate hotel offerings, the Element Orlando hotel will hold a prominent value proposition in comparison to the room rates commanded inside Epic Universe.
Perfectly suited for this location, Element by Westin, is a modern and environmentally conscious hotel brand designed for today’s healthy, active traveler, catering to both short and longer stays. Rooms feature fully equipped kitchens in spacious studios and suites, spa-inspired bathrooms, and signature Heavenly Beds which provide all guests with serene and comfortable stays. Given its recent delivery to the market, the Element Orlando hotel is one of the newest select service hotels in the surrounding submarket.
As the market fundamentals of Orlando continue to strengthen, the second-largest hospitality market in the country looks to enjoy the tailwinds of the strong tourism industry alongside the reemergence of international travel. The city has been the number one travel destination for close to a decade and has made a quick recovery from the COVID era that hindered the tourism sector. Orlando’s economy extends beyond the tourism industry, with the professional and business services sector employing approximately 251,000 jobs. The area is home to headquarters of more than 60 major domestic companies and hosts operations for over 150 international companies. The Element Orlando Universal Blvd’s superior quality and location is poised to benefit from the continued strong demographic trends in Orlando.
Jason Anderson, Co-CEO of Crescent stated, “Crescent is extremely pleased to announce the addition of the Element Orlando to our growing upscale select-service hotel portfolio. Building a portfolio of exceptional select-service hotels is one of Crescent’s core hospitality strategies and we can think of no better way than to expand our Element ownership following our recent acquisition of the Element Basalt-Aspen.”
“Element Hotels stand out in the select-service space in terms of its high-quality, contemporary design, and we look forward to capitalizing on an asset with minimal capital requirements in such a flourishing area,” Anderson said. “Our prime location along International Drive provides our guests with unparalleled access to the world’s top theme parks, leading convention center, and is directly adjacent to the renowned mixed-use retail and entertainment district known as Icon Park.”
Crescent has engaged HEI Hotels & Resorts, a nationally recognized hotel management firm with extensive experience managing hotels of all categories throughout the United States.
ABOUT CRESCENT
Crescent Real Estate LLC (Crescent) is a real estate operating company and investment advisor, founded by Chairman John C. Goff, with assets under management, development, and investment capacity of more than $10 billion. Through the GP Invitation Funds, Crescent acquires, develops, and operates all real estate asset classes alongside institutional investors and high net worth clients. Crescent’s premier real estate portfolio consists of Class A and creative office, multifamily, hospitality, and senior living assets located throughout the U.S., including The Ritz-Carlton, Dallas, and the wellness lifestyle leader, Canyon Ranch®. For more information, visit www.crescent.com.
ABOUT HEI
HEI Hotels & Resorts, headquartered in Norwalk, Conn., is a leading hospitality investment and management company that owns or operates 100+ luxury, upper-upscale and upscale independent and branded hotels, and resorts throughout the United States. HEI’s branding partners include Marriott, Hilton, Hyatt, IHG, Choice and Wyndham. The company is renowned for its commitment to its associates under the culture of HEI Loves, its revenue management, profit contribution and empirically based real estate value creation, driven by a full complement of proprietary software tools to set and exceed targets on a fully integrated basis. HEI works hand-in-hand with institutional capital partners on existing assets under management as well as sponsored acquisition opportunities. The company has ample equity capital and strategically co-invests with its partners on many transactions. To learn more about HEI, please visit www.heihotels.com.
Dennis Winkler
Crescent Real Estate LLC
email us here
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In the latest setback to already complicated relations, Canada’s trade commission announced on its website that the trade mission to India had been postponed. The mission was tied up with Canada’s Indo-Pacific strategy and India was described as an “ideal destination” for a Team Canada Trade Mission. “Canada and India have a mutual interest in […]
The post India, Canada halt trade talks amid strain first appeared on Latest India news, analysis and reports on IPA Newspack.
Agreement signed at the at Belt and Road Summit to promote trade and business between the two regions Middle East delegation showcases market and growth opportunities in the Kingdom and beyond HONG KONG SAR – Media OutReach – 16 September 2023 – Saudi Arabia-China Entrepreneurs Association has signed a Memorandum of Understanding (MoU) with Hong Kong Trade Development Council (“HKTDC”) to promote trade and business between Hong […]
GUANGXI, CHINA – Media OutReach – 16 September 2023 – In 2008, Vietnam and China established a comprehensive strategic partnership to expand, foster and deepen bilateral relations, increasing the prosperities and ensuring regional peace, stability and development. Prime Minister Pham Minh Chinh attended the Vietnam-China Business Forum in Beijing on June 28. At the invitation of Chinese Premier Li Qiang, Vietnam Prime Minister Pham Minh Chinh will […]