Fort Worth’s Crescent Real Estate acquires new Element Orlando hotel near theme parks
Crescent Real Estate LLC, the company behind the luxury hotel in downtown Dallas and the hotel coming soon to Fort Worth’s Cultural District, has acquired a new hotel in Orlando.
The 165-room Element Orlando Universal Blvd. sits adjacent to Icon Park, a 20-acre entertainment complex with a Ferris wheel, 450-foot swing ride, wax museum, aquarium and more than 40 shops and restaurants.
The hotel was previously a Marriott International franchisee. It sits less than 10 miles from well-known Orlando attractions like Walt Disney World, Universal Studios Florida and the Orange County Convention Center.
Hotel rooms range from studios to suites and include full kitchens. The hotel also sits near Lockheed Martin’s 270-acre regional headquarters.
Crescent also acquired the Element Basalt-Aspen in Colorado in February. Jason Anderson, co-CEO of Crescent, said in a release that the Element Orlando will add to the company’s growing portfolio of upscale select-service hotels.
“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,” Anderson said in a release.
Crescent hired hotel management firm HEI Hotels & Resorts to help with hotel operations.
“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 in a release. “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.”
Fort Worth’s long-awaited Crescent Hotel at 3230 Camp Bowie Blvd. was previously slated to open this September in the Cultural District. The development’s opening has been moved back to mid-October, according to spokesperson Kasey Pipes.
The district’s first luxury property will open within walking distance of The Modern Art Museum, Amon Carter Museum of Art, Kimbell Art Museum and Dickies Arena. The five-story hotel has 200 rooms, 12 of which are luxury suites.
The hotel will also feature a Canyon Ranch Wellness Club, which is more than what one may think of when hearing the word “spa.”
PNC Bank recently announced it will relocate its commercial, corporate and private bank teams to office space in the mixed-use development starting early 2024.
