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.

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