Ovation Hotel Development Pad Offering Memorandum July 2025
Sale Or Joint Venture Opportunity For Development Of Up To 3 Hotel Or Condominium Pads With A Combined 740 Units Within
A 77-Acre Mixed-Use Destination With 665,000 Square Feet Of Specialty Retail, Dining & Entertainment Space And New Anchor Of The Orlando Theme Park And Retail Corridor
Ovation
W Irlo Bronson Memorial Hwy
Club Wyndham Bonnet Creek
Magic Kingdom
Hollywood Studios
Pop Century Resort Boardwalk
Art of Animation Resort
Waldorf Astoria Orlando Resort & Golf Club
Vacation Village at Parkway
Delta Hotels Orlando Celebration
ROBERT KAPLAN
+1 305 533 2860
robert.kaplan@cushwake.com
ERROL BLUMER
Managing Director
+1 954 377 0524
errol.blumer@cushwake.com MARK RUTHERFORD
+1 305 533 2864
mark.rutherford@cushwake.com
EXECUTIVE SUMMARY
Cushman & Wakefield is engaged on an exclusive basis by an affiliate of Meyers Accesso (“Sponsor”) to arrange the sale, or joint venture for development, of up to three pads slated for condominium or hotel use, with a combined total of approximately 740 units, within Ovation, a to-be-built, site plan approved, 77-acre, 665,000 square foot dining, entertainment, and retail destination in the heart of Orlando’s Theme Park Corridor, one of the most economically important zones in Florida.
Ovation offers a unique, high-visibility opportunity to develop a flagship condominium or hospitality product in the country’s most robust and diversified tourism economy. With zoning and site plan approvals, infrastructure funding through CDD bonds, and tenant leasing momentum in place, this development stands out as one of the most strategically well positioned and well-capitalized retail and hospitality projects in the U.S. It is ideally suited for a 4-star or 4.5-star hotel, upscale condominium, condo-hotel, timeshare or vacation club format seeking to capitalize on tourism generated by Orlando’s unique world-class attractions.
The Sponsor’s leadership team brings decades of commercial and mixed-use development experience, an ideal partner for a condominium or hospitality developer to take advantage of this large-scale, state-of-the-art attraction drawing local, national, and international visitors. The three development pads within Ovation offer a blank canvas for a creative, cutting-edge new product for the currently underserved upscale, lifestyle-oriented segment of the market.
ADDRESS
6375 W. Irlo Bronson Memorial Hwy. Kissimmee, Osceola County, FL 34747
LOCATION Intersection of I-4 and W. Irlo Bronson Memorial Highway
LAND AREA
PARCEL NUMBER
ZONING
05-25-28-0000-0010-0000 05-25-28-0000-0014-0000
CT - Commercial Tourist by Osceola County
FUTURE LAND USE TC - Tourist Commercial by Osceola County
FLOOD ZONE X and A
DEVELOPMENT PLAN Hotel and/or Condominium 3 sites with approximately 740 units
Retail
STATUS & PROJECTED TIMING
Site Plan Approval
County Development Agreement (incentives and CDD) Demolition Horizontal Construction Start Vertical Construction Start Initial Openings
INVESTMENT HIGHLIGHTS
CONCEPT
• Ovation is a large-scale, experiential, mixed-use destination in the Orlando Theme Park Corridor designed as a destination for tourists, conventioneers, and locals.
• The project is site plan approved with 665,000 square feet of immersive entertainment, dining, and retail space with multiple hotel and short-term stay accommodations planned, including a central tower to be designed as an iconic symbol for the new development, with a total of approximately 740 units combined.
• Ovation features distinct zones from family-friendly to upscale nightlife with first-ofits kind music and entertainment-themed venues tailored to Orlando’s dynamic visitor demographics.
• Benchmarked against top-performing venues like Disney Springs and Universal CityWalk, Ovation is positioned to offer a fresh, differentiated experience designed to meet consumer demand for “retailtainment” – blending live experiences with aspirational retail and food destinations.
• The three pads slated for hotel or condominium development are integrated into the district, providing visitors with immediate access to Ovation’s dining, retail, and entertainment options. The accommodations are expected to complement the mixed-use nature of the project, cater to both leisure and business travelers, and help meet the currently underserved demand for new luxury and lifestyle hospitality product in the area.
• Based on a traffic model prepared by Ovation consultants and reviewed and approved by County staff, annual visitor traffic at Ovation is forecast to reach 11-13 million by 2030.
LOCATION
• Ovation is located at the full interchange of Interstate 4 (I-4) and US-192 (W. Irlo Bronson Memorial Highway), one of the most prominent intersections and highest-trafficked corridors in Central Florida, with direct access from the interstate ramp.
• The site is less than one mile from the main entrance to Walt Disney World and less than two miles from the Gaylord Palms Resort & Convention Center with over 500,000 square feet of meeting space. Directly across US-192 is Celebration, the affluent, New Urbanist, master-planned community developed by Disney.
• Ovation anchors the south end of a 12-mile stretch along I-4 that includes top-performing retail destinations such as Disney Springs, Universal CityWalk, Premium Outlet, Vineland Outlet and Mall at Millenia, where retail sales per square foot range from $1,200 to over $2,000. Thsis corridor of retail is claimed to be the most successful corridor of retail in America. This corridor is the economic heart of Orlando’s tourism industry, attracting tens of millions of visitors annually, and driven by the more than a dozen theme parks and water parks operating at Disney World, Universal Studios, and SeaWorld.
• The project is less than 20 minutes from Orlando International Airport (MCO), which serves over 50 million passengers annually. Additionally, the Orlando International Airport Intermodal Terminal, opened in 2017, connects the airport to the current terminus of Brightline, the inter-city rail service to West Palm Beach, Fort Lauderdale, and Miami, offering convenient access for both domestic and international travelers.
INVESTMENT HIGHLIGHTS
MARKET & DEMAND DRIVERS
• Orlando is the #1 most visited city in the U.S. In 2024, an estimated 75.3 million tourists visited the area, a nearly 2% increase over 2023, which included an estimated 6.5 million international visitors, a 6% increase over the prior year. The next closest is New York City with only 60 million.
• In addition to being the most visited city in America, Orlando claims to be the #1 most visited convention destination and is near the fastest growing MSA’s in America. This combination of factors plus Ovation’s location within the market will contnue to drive sustainable demand for the shopping center and hotel components.
• Weekly turnover of nearly 1.5 million tourists keeps hospitality demand continuously high, supporting hotel occupancy and ADR stability.
• Tourism in Central Florida overall generated $92.5 billion in economic impact last year, representing a new all-time high and a 5.6% increase over the prior year.
• In 2024, Orlando was named for the ninth time as the Top Meeting Destination in North America.
• Meeting and convention attendees generate significant business beyond the events themselves. For example, for the fiscal year 2024, delegates to events at the Orange County Convention Center, the heart of Orlando’s convention industry and its largest venue, spent on average $2,536 on hotels, food, attractions, and merchandise.
• Orlando’s biggest demand driver is its collection of more than a dozen theme parks and water parks, earning it the title of Theme Park Capital of the World.
• Magic Kingdom is the world’s most visited theme park (6 miles from Ovation). Other nearby Disney parks include Hollywood Studios (5 miles from Ovation), Animal Kingdom (5 miles from Ovation), and Epcot (6 miles from Ovation). Just north on I-4 is SeaWorld (8 miles from Ovation) and Universal Orlando Resort (12 miles from Ovation) featuring Universal Studios, Islands of Adventure, and the recently completed Universal Epic Universe.
• In addition to theme parks, conventions, sports, and entertainment events, demand generators drawing visitors to the area include healthcare tourism and university related business. A major anchor in the local healthcare industry is Lake Nona Medical City, a 650-acre health and life sciences hub less than 20 miles from Ovation that is home to a cluster of medical, research, and educational institutions. Higher educational institutes in the area include University of Central Florida, Valencia College, Rollins College, AdventHealth University, and Full Sail University.
HOTEL COMP SET
A market study prepared by HVS on behalf of the Sponsor during its acquisition due diligence identified a lack of branded luxury accommodations in Ovation’s submarket, creating an opportunity to fill the void. Ovation’s appeal to luxury-minded visitors in the leisure, business, and group segments is anchored in its exciting mix of dining, retail, and entertainment venues with a focus on an elevated level of service and guest experience.
The HVS report strongly recommends positioning the proposed main hotel within the luxury tier of STR’s chain scale rankings. The ideal signature hotel would carry a lifestyle luxury brand and include ample meeting space, multiple on-site dining venues, including a signature restaurant, full-service spa, pools, fitness center, and outdoor event space. Additional hotels within Ovation could complement the main hotel by offering alternatives in the luxury or upper-upscale tier.
The report identified the following established properties as being representative peers for Ovation in the luxury and upper-upscale segments (see tables for additional information):
• Primary Competitive Set
• Hard Rock Hotel Universal Orlando Resort
• Waldorf Astoria Orlando
• Ritz-Carlton Grande Lakes Resort
• JW Marriott Orlando Bonnett Creek Resort & Spa
• Secondary Competitive Set
• Wyndham Grand Orlando Resort Bonnet Creek
• Westin Walt Disney World Swan
• Hyatt Regency Grand Cypress Resort
Additionally, the current hotel stock and development pipeline demonstrates both a healthy level of new construction (low percentage of existing inventory) and under-representation of the luxury and upper-upscale segments. The following are key data points from Costar for the area within a 10-mile radius of Ovation:
• Existing inventory
• Comprises 125,751 keys across 354 properties including all segments.
• Luxury segment includes 7,496 keys in 17 properties (6% of total room count)
• Upper-Upscale segment includes 44,230 keys in 70 properties (35% of total room count)
• Under construction
• There are currently 8 properties under construction with 1,413 keys (1.12% of existing inventory).
• Only one property under construction is classified as luxury, The Flats Orlando condohotel with 160 units in a 7-story building approximately 4 miles east of Ovation.
• Only one property under construction is classified as upper-upscale, the 180-unit condohotel component of Visions Resort & Spa, a 42-acre resort community approximately 10 miles south of Ovation that also includes 48 single-family homes, 132 townhouses, and 70,000 square feet of retail space.
PRIMARY COMPETITIVE SET
SECONDARY COMPETITIVE
BRANDED FOR-SALE UNITS
The Orlando and Kissimmee for-sale real estate market is increasingly shaped by the power of hotel branding, with both condo-hotels and private residences leveraging globally recognized names to attract buyers. These properties offer a mix of lifestyle and investment appeal, enhanced by trusted service standards and resortstyle amenities. Condo-hotels provide flexible ownership with rental income potential, while hotel-branded private residences cater to full-time homeowners seeking exclusivity and luxury without rental obligations. Developments like the Four Seasons Private Residences at Golden Oak, Residences at Margaritaville Resort, and Embassy Suites by Hilton Orlando Sunset Walk demonstrate the broad market appeal and versatility of branded real estate.
• Four Seasons Private Residences at Golden Oak
• Mid-Rise Tower
• 31 residences
• 3-4 bedrooms (3,715 SF – 4,590 SF) and penthouse residences (7,015 SF – 7,410 SF)
• Prices start at $5+ million
• Garden-Level Attached Boutique Homes
• 9 residences
• 4-5 bedrooms (5,312 SF – 5,616 SF)
• Prices from $7+ million
• Residences at Margaritaville Resort Orlando (Kissimmee)
• 345 units in 5 buildings
• 2-3 bedrooms (1,398 SF – 1,862 SF)
• Condo-hotel rental program
• Rental program requires purchase of all-inclusive turnkey furnishings package ($42,599 for 2BR units and $45,999 for 3BR units)
• Prices from $661,900 to $817,900
• Embassy Suites by Hilton Orlando Sunset Walk (Kissimmee)
• 317 units in 5 buildings
• Studios – 2 bedrooms (514 SF – 1,252 SF)
• Condo-hotel rental program
• Fully furnished units
• Priced from $430,000 for studios, $520,000 for 1 bedroom, and from $600,000 for 2 bedrooms
Residences at Margaritaville Resort Orlando
Four Seasons Private Residences - Golden Oak
Embassy Suites by Hilton Orlando - Sunset Walk
DEVELOPMENT PLAN
HOTEL / CONDO SITES
ZONE 1 THE CELEBRATION
Guests will enter this inviting and walk able space featuring adult and family-friendly retail, dining and entertainment anchored on the East End of the property by a signature attraction. Central green spaces serve as a hub for pop-up vendors, dancing fountains and relaxed seating.
ZONE 2
THE WATERS EDGE
Experience world-class dining along the shoreline of a 3-acre activated lake and feel a sense of calm, expansive tranquility.
3
THE INDULGENCE
Here, guests enjoy Ovation’s most sophisticated retail and services arrayed near the signature hotel and world-class branded attractions.
ZONE 4
THE STREET
Signature retail, restaurant, and entertainment offerings designed to appeal to a wide range of tastes in transition to a lively music and late-night themed district in Zone Five.
ZONE 5
THE BEAT
The heartbeat of Ovation featuring clubs, music venues and restaurants with a decided edge and attitude appealing to those wanting a break from the ordinary in a district unlike any currently operating in the Theme Park Corridor.
(At the Eastern Section of the Project)
(Along the Waters Edge Between Celebration Square and the Signature Hotel)
(Center Court At the Main Hotel Entrance)
(North of Signature Hotel to a Natural Juncture with the Urban Edge)
(At the Northeast section of the Project)
OVER HALF A MILE OF FRONTAGE ON W. IRLO BRONSON MEMORIAL HWY
RENDERINGS
RENDERINGS
PARKWAYBLVD
RENDERINGS
RENDERINGS
RENDERINGS
LOCAL ATTRACTIONS
DEVELOPMENT TEAM
Meyers Accesso was created as a joint venture between Meyers Group, a leading Florida residential and mixed-use development group, and Accesso Partners, a national real estate investment manager. Meyers Group is a privately owned development company focused on strategic investments, expert development, quality construction, and comprehensive property management services. Founded in 2015 by Stuart I. Meyers, Meyers Group consists of experienced professionals, each with a track record of developing and managing apartment communities, condominiums, and hotels for more than 40 years. Meyers Group has been involved in the development of over 20,000 residential units in more than 70 separate projects. Meyers Group is headquartered in Aventura, Florida.
Accesso Partners is a full-service, vertically integrated commercial real estate investment manager, owner, and operator that aims to provide superior returns to its U.S. and international individual and institutional investors. Accesso’s focus is on acquiring commercial and residential properties in nongateway metropolitan statistical areas, representing the fastest growing metropolitan cities and premier suburban submarkets throughout the U.S. Accesso’s property portfolio includes 34 commercial and office properties covering 14.5 million square feet. Its affiliate, Accesso Services LLC, provides proactive, costefficient property management services with an owner’s mindset. Accesso Partners LLC is headquartered in Hallandale Beach, Florida and has offices in Atlanta, Charlotte, Chicago, Dallas, Houston and Minneapolis.
Avery Dania Pointe
Hotel Paso Del Norte
The Atrium at Broken Sound
DEVELOPMENT TEAM
Ariel Bentata Co-Chairman & Co-CEO
Mr. Bentata directs the company’s investments, asset management and corporate development. Prior to joining Accesso, Ariel was legal and business affairs counsel for MTV Networks Latin America and counsel to a Florida law firm. He is Campaign Chair of the Greater Miami Jewish Federation and the MAR JCC.
Robert L. Shapiro Principal & Vice Chairman
Mr. Shapiro is the founder and President of Master Development, inc, organized in 2001 and focused on acquiring, designing, developing and redeveloping retail and mixed-used projects in SoFl. In 2021 he partnered with Mr. Stuart Meyers and brought his retail and mixed-use experience of over 40-years to Meyers Accesso.
Principal & President
A real estate professional with more than 25 years of comprehensive real estate experience. Mr. Losada has extensive experience in the areas of multi-family rental, condominium development, land acquisition, project financing, sales, construction, and asset dispositions.
Principal
Mr. Garzon is an experienced developer who has been involved in the planning, design and analysis of both residential and commercial projects since the early 2000’s. Most recently, he has successfully led Accesso’s residential platform in the Sunbelt markets.
John Rivard Principal & CIO
Throughout his career, Mr. Rivard has held several positions in real estate investment managements across all major property types, ownership structures, and markets throughout North America. He currently spearheads the firm’s investment process by sourcing new opportunities and overseeing the underwriting, negotiation and closing of transactions.
DEVELOPMENT TEAM
EVP of Development
An accomplished senior executive with more than 30 years of success within the real estate industry, primarily in multi-family and retail sectors. Mr. Shewalter focuses on the development of the residential, retail and mixed-use components of the projects. He works with the firm’s executive team to provide overall strategy for the project, and lead the project team through the entitlement, development, and construction processes.
SVP of Development
An accomplished senior executive with more than 45 years of success within the real estate industry, primarily in the retail sectors. Mr. Phillips focuses on the development of the retail and mixed-use components of the projects. He works with the firm’s executive team to provide overall strategy for the project, and lead the project team through the entitlement, development, and construction processes.
Cito Beguiristain EVP Finance
A seasoned expert in the real estate industry, Mr. Beguiristain brings over two decades of management and development to Meyers Accesso. Mr. Beguiristain is responsible for identifying and analyzing potential acquisitions for the firm. He is also responsible for securing project financing, and oversees all government affairs pertaining to permits, entitlements, zoning and approvals.
Veronica Vainrub VP Marketing
Ms. Vainrub is an award-winning bilingual professional with experience in branding, advertising, and market research. She spearheads all corporate marketing and communication efforts, including corporate and on-site property branding, advertising, public relations, events, email marketing, and social media efforts for the Meyers Accesso brand. In her role as Marketing Director, Ms. Vainrub specializes in strategic planning, client services, market research, and brand identity. She attended Northwestern University where she received her Bachelor’s degree in Communications, and earned her Master’s in Business Administration (MBA) from Florida International University.
Logan Crabb Associate Developer
Ms. Crabb is an Associate Developer of the Meyers Group and its affiliated partnerships. She works with the executive team for all residential and mixed-use developments in Florida and El Paso, Texas. Ms. Crabb gained professional experience in the real estate industry over the past several years having interned in commercial real estate lending at Iberiabank, and multi-family brokerage at Newmark. After graduating from the University of Colorado in Boulder with a BA in Anthropology she moved to South Florida and graduated from the University of Miami Herbert Business School with an MBA in Business Management and Real Estate Development.
CONSULTING TEAM
RSP Architects (AOR). Founded in 1978. RSP is a diverse design firm. Their client roster includes a cross-section of established Fortune 100 global brands and retailers, commercial developers, and operators. RSP’s roots in South Florida started in 1992 via the work of Beame Architectural, whose reputation for creating some of the region’s most successful commercial and entertainment destinations is unmatched.
BRC Imagination Arts. BRC Imagination Arts is a full-service, strategic design and production agency that translates brand and cultural stories into transformative human experiences. Founded in 1981, BRC has produced projects on 6 continents, ranging from the Johnny Walker Brand Home in Edinburgh to The Circle Room at The Grand Ole Opry to the Jameson Distillery Experience in Dublin to the Allegiant Stadium Tour for the Las Vegas Raiders.
SW Retail / Nick Egelanian (merchandising). Mr. Egelanian is a seasoned veteran of the retail industry with a working knowledge of virtually all “Specialty” Retail locations throughout the United States and experience in planning and executing complex projects throughout the country. He also writes on retail for the ULI, and is a frequent speaker on retail topics.
Storybook Marketing (branding, web site, social media). Storybook is a niche marketing consultancy specializing in destination brands and branding. They endear people to places. Their experience includes: entertainment destinations, tourist attractions, mixed-us developments, retail and immersive brand environments.
Landquest (Leasing). In addition, sponsor has in-house leasing.
Kimley Horn (traffic engineering). A leading national full-service engineering and planning firm. The local Orlando office is handling the position within Ovation as traffic consultant.
PCL (pre-construction cost estimation). PCL ranks as one of the largest contractors in the US. Their experience building multi-tenant entertainment centers is invaluable during the budgeting phase. They also have the resources to execute on the General Contractor side. Their office in Orlando has constructed venues for Disney, Universal and top commercial developers and provides superior access and relationships with the top trades in the area.
Fishkind Litigation Services (CDD with County). Dr. Fishkind is a leading expert in fiscal impact studies and creating CDD’s – as well as other real estate valuation and real estate services.
RSM Design (graphic design). The studio of RSM Design focuses their global design acumen at the intersection of design and graphics and architecture, crafting varied and unique guest experiences. They combine the disciplines of branding and graphics to create a branded experience with signage, art, and experiences.
Walker Engineering (parking consultants). Walker is the nation’s leading expert in parking. Since 1965 they have been specialists in all aspects of parking. They provide parking planning, consulting, financial analysis, operations control, technology, and revenue enhancement.
RJ Whidden and Associates (land planning). RJW specializes in land planning and associated consulting services. Their office is located in Osceola County near the subject site. RJW is active in the local area as well as throughout the SE US. RJW has involved in over 1000 successfully approved and entitled sites and have a near 100% success rate.
Hanson, Walter and Associates (civil engineering). Hanson and Walters are leading civil engineers whose office is located near the subject site. They have been in the local market for over 30 years and have been involved as EOR on the subject site for 20 years. Since their founding they have completed nearly 5000 projects.
CONFIDENTIALITY & DISCLAIMER
This Confidential Offering Memorandum (“Offering Memorandum”) is being furnished to the recipient (the “Recipient”) solely for the Recipient’s own limited use in considering whether to purchase, or enter into a joint venture for the development of, up to three hotel and/or condominium pads (“Offering”) within Ovation in Kissimmee, Florida (“Property”) on behalf of Meyers Accesso (the “Sponsor”).
This confidential information does not purport to be all-inclusive nor does it purport to contain all the information that a prospective investor may desire. Neither the Sponsor nor Cushman & Wakefield nor any of their respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of this Offering Memorandum or any of its contents and no legal liability is assumed or shall be implied with respect thereto.
The Recipient agrees that (a) the Offering Memorandum and its contents are confidential information, except for such information contained in the Offering Memorandum that is a matter of public record; (b) the Recipient and the Recipient’s employees, agents, and consultants (collectively, the “need to know parties”) will hold and treat the Offering Memorandum in the strictest of confidence, and the Recipient and the need to know parties will not, directly or indirectly, disclose or permit anyone else to disclose its contents to any other person, firm, or entity without the prior written authorization of Cushman & Wakefield and the Sponsor; and, (c) the Recipient and the need to know parties will not use, or permit to be used, this Offering Memorandum or its contents in any fashion or manner detrimental to the interest of the Sponsor or Cushman & Wakefield or for any purpose other than use in considering whether to provide all or a portion of the Offering. The Recipient and the need to know parties agree to keep this Offering Memorandum and all confidential information contained herein permanently confidential and further agree to use this Offering Memorandum solely for the purpose set forth above.
PHOTOCOPYING OR OTHER DUPLICATION IS STRICTLY PROHIBITED. THE SPONSOR EXPRESSLY RESERVES THE RIGHT, AT ITS SOLE DISCRETION, TO REJECT ANY OR ALL PROPOSALS OR EXPRESSIONS OF INTEREST IN THE PROPOSED UNDERLYING TRANSACTION AND TO TERMINATE DISCUSSIONS WITH ANY PARTY, AT ANY TIME, WITH OR WITHOUT NOTICE. THIS CONFIDENTIAL OFFERING MEMORANDUM SHALL NOT BE DEEMED TO BE A REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OF ITS PREPARATION.
If either party does not wish to pursue negotiations leading to the placement of the Offering, or if in the future the Recipient or the Sponsor discontinue such negotiations, Recipient agrees to return this confidential Offering Memorandum to Cushman & Wakefield upon request.
