ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%
ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%
ORLANDO INDUSTRIAL7.2%+0.4%
MIAMI MULTIFAMILY$3,420+1.2%
TAMPA RETAIL4.8%-0.2%
US-192 CORRIDOR$340/SF+4.1%
30Y FIXED MORTGAGE6.72%-0.08%
FED PROBABILITY (PAUSE)92%+2%

What is the demand case for the new hotel pipeline and will supply dilute existing hotel NOI?

The impact is highly corridor-specific. The three Universal on-campus hotels (Stella Nova, Terra Luna, Helios Grand, 2,000 rooms delivered in 2025) are not competing with I-Drive hotels for the same guests; they are capturing Epic Universe-specific demand that did not exist before May 2025. The InterContinental 700-key (Q1 2026 groundbreaking) is positioned as upscale overflow. The Grand Hyatt Orlando (1,200–2,500 keys, phased) is the supply event that deserves scrutiny. It will directly compete for convention groups currently booking the Hyatt Regency and Hilton Orlando. However, defensive renovation commitments ($75M each) suggest incumbents see this as manageable.