The Palazzo del Lago, a widely anticipated condo hotel is becoming available for purchase causing a big buzz in the Orlando investment real estate community. One aspect drawing so much attention is that the hotel is offering preconstruction units available for purchase in one of the hottest area's in Orlando.
The Palazzo del Lago, the newest investment development in Orlando Florida has become available for real estate investors looking for luxury preconstruction opportunities on Orlando’s growing International Drive.
The Palazzo del Lago is the largest InterContinental hotel in the world, the developer, Hospitality Development Group, plans on starting construction this fall. Hospitality Development plans on selling 585 rooms of the 1,260 hotel for around $400,000 to savvy real estate investors that plan on renting the rooms and pocketing the profits themselves. Other investors are banking on buying early and relying on the area’s high appreciation rate as well as the developer raising rates, this method is called preconstruction investing. The process is simple, because the property is not built yet the developer offers units at the lowest price points, as different “phases” get built in the development the developer raises the price after each phase is finished. At this point investors that bought early sell the property at a much higher price regardless of local real estate appreciation.
“Southwest Orlando is a natural location for a new luxury hotel” - Kirk Kinsell, InterContinental Hotel Group's development officer for the Americas
The Palazzo del Lago hotel is conveniently located on International Drive is joining a growing number of luxury hotels in the area that cater to both business travelers visiting the new Orange County Convention Center as well as tourists and vacationing families visiting the cities many first rate attractions.
“Demand for top-flight hotel rooms remains strong.” Tom Ackert, the convention center's executive director
InterContinental has 136 hotels in 60 countries, and is the luxury name of InterContinental Hotels Group, based out of Windsor, England. There are two other InterContinentals in Florida as well but both are in the Miami-Dade County area which is on the other side of the state. InterContinental also controls the Holiday Inn and Crowne Plaza brands.
For more information on purchasing units at the Palazzo del Lago in Orlando, Florida please call Goldberg Executive Realty Group, a mater broker for the development at 1-866-247-2259 or visit their website for the most up to date information, pictures, and pricing www.InvestRealEstate101.com
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