The Osprey Orlando is a popular hotel located in Orlando, Florida near major attractions like Walt Disney World and Universal Orlando. With its prime location and amenities, it attracts both leisure and business travelers. But who actually owns this prominent Orlando hotel property?
The Hotel’s History and Past Owners
The Osprey Orlando first opened in 1995. It was originally developed and owned by The Procaccianti Group, a private real estate investment firm based in Rhode Island. The Procaccianti Group owned and operated the property for over 20 years.
In 2016, the hotel was acquired by Hospitality Investors Trust (HIT). HIT purchased the hotel for $71 million as part of a larger $1.2 billion hotel portfolio transaction. At the time, HIT was an independent, publicly-traded real estate investment trust (REIT) that specialized in upscale and upper upscale hotels.
While under HIT’s ownership, the Osprey Orlando underwent $5 million in renovations. All guest rooms and public spaces were upgraded with new furnishings, fixtures and decor. The renovations were completed in 2018.
Current Owner: Park Hotels & Resorts
Today, the Osprey Orlando is owned by Park Hotels & Resorts Inc. Park Hotels acquired the property in January 2019 as part of HIT’s $1.5 billion cash merger transaction.
Park Hotels & Resorts is based in Tysons, Virginia and is one of the largest publicly-traded lodging REITs. The company owns iconic and market-leading hotels primarily in the United States. Its portfolio consists of 60 premium-branded hotels and resorts containing over 33,000 rooms across 17 states and the District of Columbia.
Some of Park Hotels’ other major hotels include the Hilton Hawaiian Village Waikiki Beach Resort, the JW Marriott San Francisco Union Square, The Queen Mary Long Beach and the Casa Marina Key West.
| Year | Owner |
|---|---|
| 1995 – 2016 | The Procaccianti Group |
| 2016 – 2019 | Hospitality Investors Trust (HIT) |
| 2019 – Present | Park Hotels & Resorts |
As part of Park Hotels & Resorts, the Osprey Orlando joins one of the industry’s top ownership portfolios. It benefits from Park Hotels’ scale, operational expertise and access to capital for investment and improvements.
About the Osprey Orlando Hotel
The Osprey Orlando is a 334-room hotel situated just 1.5 miles from Walt Disney World. It features a classic Spanish mission revival architectural style. Amenities include a large outdoor pool and hot tub, fitness center, business center, sundries shop, full-service restaurant and lobby bar.
There are 25,000 square feet of indoor meeting and banquet space to accommodate conferences and events. The hotel provides complimentary transportation to all major theme parks and Orlando attractions.
Guests enjoy the property’s location and amenities. It maintains a TripAdvisor rating of 4.5 out of 5.0 based on over 1,700 reviews. Positive feedback notes the hotel’s affordable rates, family-friendly vibe, accommodating staff and convenient location.
Key Facts
- 334 total guest rooms and suites
- Outdoor pool, hot tub, restaurant and fitness center
- 25,000 square feet of indoor meeting space
- Complimentary theme park shuttles
- 1.5 miles from Walt Disney World
Park Hotels’ Orlando Presence
In addition to the Osprey Orlando, Park Hotels owns five other hotel properties in the Orlando area:
- Hilton Orlando Bonnet Creek – 1,001 rooms
- Waldorf Astoria Orlando – 498 rooms
- Hilton Orlando Lake Buena Vista – 814 rooms
- DoubleTree by Hilton Orlando at SeaWorld – 742 rooms
- Embassy Suites by Hilton Orlando International Drive Jamaican Court – 246 rooms
Across these six hotels, Park Hotels has over 3,600 rooms representing nearly 10% of Orlando’s total guest room inventory. This makes them one of the largest hotel owners in the region.
The Osprey Orlando nicely complements Park Hotels’ other Orlando hotels. While those cater mostly to conventions and theme park visitors, the Osprey offers a quieter, more relaxed vibe near Disney World.
Future Outlook
Park Hotels & Resorts continues to own and operate the Osprey Orlando with no indications of plans to sell. The REIT has invested significantly in the property and uses it as part of its overall Orlando portfolio.
As part of its ownership strategy, Park Hotels will likely continue making select upgrades and improvements to the Osprey Orlando. But major changes are unlikely given the hotel’s good performance and popularity among guests.
Barring any unexpected transactions, the Osprey Orlando will remain under Park Hotels & Resorts’ ownership for the foreseeable future. Its prime location near Disney ensures continued demand and profitability.
Key Takeaways
- The Osprey Orlando originally opened in 1995 and had two owners before its current one.
- Park Hotels & Resorts, a major lodging REIT, acquired the Osprey Orlando in 2019.
- The 334-room hotel is located near Walt Disney World.
- Park Hotels owns five other Orlando hotels including the Hilton Orlando Bonnet Creek.
- The Osprey Orlando is likely to remain under Park Hotels’ ownership for the long term.
Conclusion
The Osprey Orlando has changed hands a few times since first opening in the 1990s. But it now finds itself under the ownership of one of the hotel industry’s largest investment trusts. As part of Park Hotels & Resorts’ premium portfolio, the Osprey Orlando is well-positioned for continued success.
Park Hotels has invested in upgrading the property and leverages its scale and expertise to maximize performance. The hotel fills an important niche in the company’s Orlando cluster. Barring any surprise transactions, Park Hotels is likely to own this asset for many years to come.
