Vacation Rental Home Market Responds - More Options and Flexibility with Leisure and Business Travel

FOR IMMEDIATE RELEASE October 12, 2016

Vacation Rental Home Market Responds to Consumer Demand for more Options and Flexibility with Leisure and Business Travel Needs Access Media Resource Center (ChampionsGate, Florida) – Osceola County, one of the fastest growing counties in the State of Florida has increasingly benefitted from development in the Four Corners area and more specifically, in ChampionsGate: a complete destination community catering to the needs of both residents and tourists. The hybrid, mega-community is experiencing explosive growth in the residential, tourist and commercial sectors. In 2015 the tax value for residential development in ChampionsGate accounted for more than $500 Million, a growth of 70 percent from tax year 2007, and when factoring in non-residential development the total tax value is well over $1 Billion for Osceola County.

ChampionsGate features a thriving dining, retail and leisure tourist market under the leadership of Rida Development Corporation who reports an estimated $250 Million in projected growth for 2017. As the mega-community’s developer and homebuilder, Lennar Homes continues to be the primary driver of community infrastructure for the development of projects to accommodate the expanding needs of the community’s residents and visitors.

The popularity of vacation rental homes has increased as the market is responding to consumer demand for more options and flexibility with their leisure and business travel needs. Experience Kissimmee is a driving force in the development and promotion of Kissimmee as not only a Gateway to Fun® for world-famous tourism experiences, but also as a destination complemented by more than 50,000 accommodations that suit every traveler's needs, including hotels, luxury resorts and the largest collection of vacation home rentals in the world.

“The growing popularity of the vacation rental home market in Kissimmee is reinforced by new development in ChampionsGate which continues its longstanding reputation of providing our travelers the type of comforts and services they crave,” says: DT Minich, president and CEO of Experience Kissimmee. Promoted as the Vacation Home Capital of the World, Minich added that the homes at ChampionsGate will not only assist in spurring growth in tourist development tax revenues in the destination, but also allow his team to reach more travelers around the world with appealing messages about the area’s many vacation and holiday options.

ChampionsGate Features:

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Three Lennar Resort Collection® communities, offering resort-style living with the comfort and convenience of home, available in a variety of styles and budgets.

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The Villas at ChampionsGate, directly adjacent to and managed by the Omni Resort at ChampionsGate with 49 luxury golf condominiums and the planned addition of 93 more units opening in late 2017.

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The landmark 4-Diamond Omni Resort at ChampionsGate welcomes more than 330,000 vacation and business travelers each year. The hotel features 720 rooms and a 125,000 square foot conference center with an additional 65,000 square feet of meeting space planned for late 2017.

ChampionsGate is centered on the active leisure lifestyle with 54 holes of championship golf, 36 of which were designed by International golf champion Greg Norman. The community is home to the David Leadbetter Golf Academy. To meet the growing needs of residents and tourists, ChampionsGate features 150,000 square feet of retail space anchored by premier grocer, Publix Super Markets, which was the first to enter the community in 2000.

Dining in ChampionsGate Part of the total approved 426,000 square feet of retail space includes a thriving downtown dining area, featuring one of the busiest Chili’s restaurants in the country and the recent openings of Millers Ale House and Red Robin Gourmet Burgers. There are talks with several national brands for use of the final 2.7 acres directly adjacent to the I4 Interchange. In total, there are an impressive 15 restaurant options in ChampionsGate, including the seven restaurants located in landmark Omni Hotel and the five under construction as part of the 24,000 square foot ChampionsGate Shopping Center, (located at the intersection of Legends Boulevard and ChampionsGate Boulevard), which broke ground in early 2016 and is scheduled for completion in early 2017 A spokesperson for the community confirmed that they have commitments on eight of the eleven tenant spaces for the new ChampionsGate Shopping Center, including Tijuana Flats, Menchie’s Frozen Yogurt, Lee Nails, Osterio Italian Restaurant and Urban Hibachi. A third phase, accounting for an additional 9,500 square feet, is expected to be announced in late 2016.

About Lennar Lennar Corporation, founded in 1954, is headquartered in Miami, Florida and is one of the nation’s leading builders of quality homes for all generations. Lennar builds affordable, move-up, and retirement homes in communities that cater to almost any lifestyle. Listed on the New York Stock Exchange, the homebuilder has built over 800,000 homes in more than 50 cities coast to coast. Lennar is one of the largest homebuilders in the Greater Orlando area, currently building in over 40 communities in Orange, Osceola, Brevard, Polk and Lake Counties. For more information, visit www.Lennar.com.

About Rida Development Rida Development Corporation (www.ridadev.com) is a privately owned real estate development and investment firm having ownership equity interests in $5 Billion of real estate assets worldwide, including hotels, office buildings, shopping centers and corporate parks.

The company’s flagship developments include the 1,400 acre $1.5 Billion mixed use mega community, ChampionsGate Resort and the 720 room ($250 Million) Omni Resort at ChampionsGate as well as the 1,400 room ($500 Million) Hilton Orlando at the Orange County Convention Center.

Contact: Paula Wyatt - 321-946-6565 Paula@AnytingisPoshAble.com ###