Skip to content

Search

Latest Stories

Banyan bought a castle near the Magic Kingdom

The Atlanta-based investment and management company has acquired the 213-room Castle Hotel in Orlando

Banyan bought a castle near the Magic Kingdom

BANYAN INVESTMENT GROUP recently acquired the Castle Hotel, part of the Autograph Collection by Marriott, in Orlando, Florida. The hotel recently underwent an $8.2 million renovation on its guestrooms, public spaces and exterior.

The 213-room hotel is on Universal Boulevard near the city’s key attractions, Disney’s Magic Kingdom and Universal Studios, according to Atlanta-based Banyan, led by Rakesh Chauhan, managing partner and CEO. Also nearby is the site of Epic Universe, a 750-acre, $1 billion theme park expected to open in 2025, which will be the largest Universal Park in the U.S. and second largest globally.


The Castle Hotel, which is designed to look like a medieval fortress, also is close to the 270-acre Lockheed Martin regional headquarters that employs 8,000 people.  Also nearby are the Orlando International Airport, including the recently opened $2.8 billion, 15-gate international Terminal C, as well as the Orlando Convention Center. Brightline High Speed Rail plans to open two stations in the area.

“Orlando, with its multitude of theme parks, golf resorts, outside adventures and fine dining options, continues to be the number one destination for leisure travel and conventions in the country,” said Samir Yajnik, principal and executive vice president of investments, Banyan Investment Group.  “We are bullish on the Orlando MSA, particularly the I-Drive submarket.  The Castle Hotel is the only four-star Marriott product within walking distance of the convention center.  It is ideally suited for upscale visitors looking to stay with one of the most trusted hotel companies in the world.  With the increased traffic to the convention center, airport and area attractions, as well as the expected opening of Epic Universe by Universal, the collective, positive impact on the hotel will be substantial, allowing the hotel to quickly take its place as the rightful market and segment leader.  We believe the continued increase in demand for the submarket will drive increased cash flows at the property.  It’s important to note that hotels re-price rates daily, and we believe that the investment offers a beneficial inflation hedge to our valued investors.”

In August, investment and management company Banyan announced that its $35 million Banyan Lodging Enhanced Value Fund has been fully subscribed. The final participants were domestic and foreign families, the company said at the time.

More for you

Wyndham & Grubhub Offer Free Delivery to Guests & Staff

Wyndham, Grubhub offer free delivery to guests, staff

Summary:

  • Wyndham Hotels & Resorts is partnering with Grubhub to offer free product delivery to guests and staff at nearly 6,000 U.S. hotels across 20 brands.
  • A Grubhub account is required to activate the complimentary Grubhub+ membership; no credit card is needed and the membership does not auto-renew.
  • Wyndham recently deployed Elavon’s cloud payments interface to more than 6,000 U.S. and Canadian franchisees.

WYNDHAM HOTELS & RESORTS and Grubhub, an online ordering and delivery platform, will offer item delivery to guests and staff with no delivery fees and other benefits. The service is available at nearly 6,000 U.S. hotels across 20 brands, with orders placed through the Grubhub app on-site or by scanning a hotel QR code.

Keep ReadingShow less
U.S. Hotel Construction Hits 20-Quarter Low in June

CoStar: Hotel construction drops in June

Summary:

  • U.S. hotel rooms under construction fell year over year for the sixth straight month in June, hitting a 20-quarter low, CoStar reported.
  • About 138,922 rooms were under construction, down 11.9 percent from June 2024; the luxury segment had 6,443 rooms, up 4.1 percent year over year.
  • Lodging Econometrics recently said Dallas led all U.S. markets in hotel construction pipelines at the end of the first quarter, with 203 projects and 24,496 rooms.

THE NUMBER OF U.S. hotel rooms under construction declined year over year for the sixth straight month in June, reaching a 20-quarter low, according to CoStar. Additionally, more than half of all rooms under development are in the South, mostly outside the top 25 markets.

Keep ReadingShow less
Chart showing decline in U.S. extended-stay hotel occupancy and RevPAR in May 2025

Report: May fifth month for drop in extended-stay occupancy

Summary:

  • Extended-stay occupancy fell 2.2 percent in May, the fifth straight monthly decline; ADR and RevPAR also dropped for a second consecutive month.
  • May marked 44 straight months of supply growth for the segment at 4 percent or less, with annual growth below the 4.9 percent long-term average.
  • Extended-stay room revenues rose 0.5 percent, while total industry revenue grew 0.9 percent, led by segments with little extended-stay supply.

EXTENDED-STAY HOTEL occupancy fell 2.2 percent in May, the fifth consecutive monthly decline, exceeding the 0.7 percent drop reported for all hotels by STR/CoStar, according to The Highland Group. Extended-stay occupancy was 10.5 percentage points above the total hotel industry, at the lower end of the long-term average premium range.

Keep ReadingShow less
Auro Hotels Showcases India Culture at TCMU Exhibit

Auro unveils 'India Cultural Corner' for children

Summary:

  • Auro Hotels opened the India Cultural Corner, where children can check in and explore Indian culture at The Children's Museum of the Upstate.
  • Families can engage with community art, activities and storytelling about daily life in India.
  • The exhibit runs through May 2026, offering interactive learning on Indian culture.

AURO HOTELS RECENTLY opened the India Cultural Corner at The Children's Museum of the Upstate in Greenville, South Carolina, offering a look into Indian stories for American families. The exhibition, held at The Grand Geo Hotel and running through May 2026, includes a hotel desk where children can check in and explore Indian culture through interactive activities.

Keep ReadingShow less
U.S. Firms Lose $2.4 Trillion by Skimping on Business Travel

Report: Business travel gaps cost U.S. firms $2.4T

Summary:

  • U.S. companies risk losing more than $2.4 trillion in sales due to underinvestment in business travel, says GBTA.
  • An 8.3 percent T&E increase could drive a 6 percent sales gain, despite post-COVID virtual meeting tools.
  • Current T&E spending is $294 billion—$24 billion short of the $319.1 billion needed for peak profitability.

U.S. COMPANIES ARE missing more than $2.4 trillion in potential sales due to underinvestment in business travel, according to a Global Business Travel Association report. Despite a post-pandemic rebound, travel and entertainment spending remains $66 billion below 2019 levels.

Keep ReadingShow less