CNL Hotels To Buy Grande Lakes Orlando Properties

CNL Hotels & Resorts reported Wednesday that it had agreed to acquire Grande Lakes Orlando. For $753 million, the company will purchase 100 percent of the 500-acre resort, which includes Ritz-Carlton and JW Marriott properties, as well as a spa and championship golf course. CNL CEO Thomas Hutchison said that the resort rea "will become one of the signature assets in our portfolio." Other CNL properties include the Grand Wailea in Maui; La Quinta Resort & Club in La Quinta, CA; JW Marriott Desert Ridge Resort & Spa in Phoenix; and the Doral Golf Resort & Spa in Miami.

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