DALLAS--(BUSINESS WIRE)--Affiliates of Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced that they have acquired two limited-service hotels in Orlando, Florida, the Fairfield Inn & Suites and the Residence Inn. Both hotels are located near the renowned theme parks Universal Orlando, ICON Park, SeaWorld Orlando as well as the Orange County Convention Center and forthcoming Universal Epic Universe, which is currently under construction and is expected to double the size of Universal’s Orlando footprint when completed in 2025.
The Fairfield Inn & Suites, built in 2001 and renovated in 2013, has 160 rooms and amenities including an outdoor pool, meeting space, business center and fitness center. The hotel is located in the International Drive area of Orlando within walking distance of ICON Park and many restaurant and entertainment venues. Paceline is planning an extensive property improvement plan in 2022 to elevate the guest room experience.
The Residence Inn, built in 2018 and comprised of 195 rooms, includes a full kitchen in every room, outdoor pool, meeting space, business center, fitness center and putting green. The hotel is located in the International Drive area of Orlando and benefits from numerous demand drivers including Universal Orlando and the Convention Center.
“International Drive is an attractive hospitality submarket within the greater Orlando metropolitan area that benefits from both conference business as well as leisure travelers. Universal’s Epic theme park, which is now under construction and is nearby both the Fairfield Inn & Suites and the Residence Inn, is expected to drive significant future leisure demand,” said Sam Loughlin, Chief Executive Officer of Paceline. “We look forward to continuing to execute unique investment opportunities for our investors.”
“This transaction highlights Paceline’s broad opportunity set and flexible investment mandate and represents the firm’s fourth and fifth hotel acquisitions,” added Leigh Sansone, Chief Investment Officer of Paceline. “Paceline’s management has a history of investing in value-oriented commercial and hospitality real estate and we are thrilled to expand our portfolio and bring our deep sector expertise to Orlando.”
In September 2021, Paceline acquired two limited-service hotels in the Charlotte Metro Area, the Holiday Inn Express & Suites Charlotte Ballantyne and the TownePlace Suites Charlotte Fort Mill.
About Paceline Equity Partners
Paceline is a Dallas-based private equity manager focused on value-oriented, opportunistic, and special situations investments across corporate credit, real assets, and private equity. Paceline’s senior leadership team members average 24 years of professional experience. Prior to the formation of Paceline, the senior leadership team worked together for approximately 10 years at a global private equity manager and its affiliates. To learn more, please visit www.pacelineequity.com.