JLL Arranges $386M Construction Loan for 700-Key InterContinental Orlando Hotel
NEW YORK — JLL Capital Markets announced Nov. 10 that it arranged a $386 million senior construction loan for the development of InterContinental Orlando, a planned 700-key luxury hotel at 8001 International Drive in Orlando, Florida. Flag Luxury Group and Unicorp National Developments, Inc. are the borrowers on the project, which is scheduled for delivery in 2029.
JLL Financing Terms and Lender
JLL worked on behalf of the borrowers, Flag Luxury Group and Unicorp National Developments, to secure a four-year floating-rate loan with two one-year extension options through Civitas Capital Group. The $386 million loan equates to roughly $551,000 per planned key and about $426 per building square foot, based on the planned 906,142-square-foot hotel.
The JLL Hotels & Hospitality team was led by Americas CEO Kevin Davis and Managing Directors Mark Fisher and Jillian Mariutti. Senior Director Wyatt Krapf, Director Henry Winchester and Analyst Martha Duff also were part of the team.
Davis said: "The combination of a globally recognized luxury brand, an irreplaceable location along International Drive and sponsorship with a proven track record created a compelling opportunity for lenders. This financing positions the project to deliver a premier hospitality experience that is well-aligned with the continued evolution of Orlando as a luxury leisure and group travel destination."
Civitas Capital Group provides bridge and construction financing nationwide and has originated more than $3 billion of equity and debt transactions since 2009.
InterContinental Orlando Property Details
The 12-story, full-service hotel will encompass approximately 906,142 square feet on a 13.05-acre site within Orlando's International Drive corridor. It will operate under the InterContinental Hotels & Resorts brand.
The planned amenities include approximately 105,000 square feet of meeting and pre-function space, multiple food-and-beverage venues, a conservatory, spa and wellness facilities, a fitness center, a Club InterContinental lounge, pool amenities and structured parking. The garage is planned as a six-level structure with approximately 730 spaces. Guest rooms average approximately 471 square feet, with a mix that includes 33 junior suites, 50 suites and five VIP or presidential suites.
Site work is underway. Vertical construction is expected to begin in the first quarter of 2027, with completion expected in the third quarter of 2029.
The property will be located minutes from Universal Epic Universe, Universal Orlando Resort, Walt Disney World Resort, the Orange County Convention Center and Orlando International Airport. The site is approximately three miles from Universal Epic Universe. The project is intended to serve both group and leisure travelers visiting Central Florida.
Flag Luxury and Unicorp National Developments Sponsorship
Flag Luxury Group is a privately held, New York City-based developer specializing in luxury hospitality, branded residences, entertainment and retail projects in gateway markets. Paul and Dayssi Kanavos founded the firm in 1997. It evolved from The Flag Group, established in 1946, which developed more than $4 billion in global hospitality assets. Since forming a strategic alliance with The Ritz-Carlton in 1997, Flag Luxury has developed more than $6 billion in projects, including multiple Ritz-Carlton properties in U.S. markets.
Unicorp National Developments, Inc. has developed more than $7 billion in projects across Florida, Texas, New York and other markets since 1998, with more than 10 million square feet in planning and construction. In Florida, Unicorp recently completed The St. Regis Longboat Key Resort and The Ritz-Carlton Residences, Orlando, Grande Lakes, and is about to begin The Ritz-Carlton Residences, Hammock Dunes. The firm is led by Founder and President Chuck Whittall.
Orlando Hotel Market Context
The financing comes as Orlando continues to draw theme-park visitation and convention activity. Orlando-area hotels generated more than 18 million room nights of demand through June 2026, up 1.1% from the same period in 2025 and just below pre-pandemic levels. The market had approximately 132,685 hotel rooms at year-end 2025.
Through August 2026, Orlando reported occupancy of approximately 73.2%, an average daily rate of $211.23 and revenue per available room of $154.65. Occupancy rose 0.7%, average daily rate rose 3.3% and RevPAR rose 4.1% year over year. Monthly performance was uneven, however: August occupancy was 62.4%, down 5.8%, while room demand fell approximately 5.7%.
The InterContinental Orlando's 700 keys would add a sizable luxury and group-oriented property to a large lodging market.
Sources
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