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[THE INVESTOR] Paradise Group, South Korea’s largest casino operator, has acquired Embassy Suites by Hilton Orlando Downtown in the US for US$353.5 million, the company announced Aug. 18.
Clearwater-based Paradise America LLC, the group’s US unit, bought the 167-room, all-suite hotel in downtown Orlando, Florida, which opened in 2000.
Clearwater-based Paradise America LLC, the group’s US unit, bought the 167-room, all-suite hotel in downtown Orlando, Florida, which opened in 2000.
The purchase marks Korea-based Paradise Group’s first acquisition in the US.
Embassy Suites is the only hotel property that Paradise currently owns outside of Korea as it sold off Paradise Safari Park in Nairobi, Kenya in 2014.
By Park Han-na (hnpark@heraldcorp.com)
