United Parks & Resorts Confirms Plans about Possible SeaWorld Hotel

(eap) Speculation about the construction of a park-owned hotel by United Parks & Resorts in Orlando has been circulating for several months. Yesterday, the company confirmed plans for a possible hotel construction in Orlando and other locations as part of its fourth quarter 2023 earnings call. The company owns a total of around 160 hectares (approx. 400 acres) of developable land adjacent to its parks. In addition, market analyses have shown a high demand for overnight accommodations. But, United Parks & Resorts has not yet made a final decision to invest in hotel construction. They only want to invest when they can expect a cash-on-cash return of at least 20 percent. Nevertheless, it was confirmed that a first hotel complex in Orlando is being targeted.

Back in December, the Orlando Business Journal reported on a development plan submitted to Orange County. This application is said to be entitled “Starboard DP” and includes plans for a 504-room hotel. In addition, United Parks & Resorts is said to have submitted plans for a six-storey hotel on the east side of the Discovery Cove site in January under the name “Project Canopy”. These applications were not explicitly addressed at the conference. The company is currently evaluating all possible options and is in talks with various development, management and brand partners. It remains to be seen whether United Parks & Resorts will soon be welcoming visitors to its own hotels alongside the Disney and Universal parks. ■