According to HotelsMag.com, Hyatt Hotels Corp. announced on Wednesday that a wholly owned Hyatt subsidiary plans to purchase the 1,641-room The Peabody Orlando hotel, located in Orlando, Florida, for $717 million from UST Hotel Joint Venture, Ltd.
Hyatt Regency Orlando Convention Center will be the first large convention hotel presence for Hyatt in the market. With more than 200,000 sq ft (18,580 sq m) of meeting space — and with over 2 million sq ft (185,800 sq m) of space in the Orange County Convention Center to which the hotel is attached — the hotel will offer the most meeting space of any Hyatt Regency hotel in the U.S.
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