ORLANDO, Fla., March 17 /PRNewswire/ -- Hospitality Development Group Inc.
(HDG) of Ft. Lauderdale, Florida has announced plans to develop Palazzo del
Lago, an $800 million, luxury destination resort in Central Florida. Palazzo
del Lago will include the InterContinental Resort & Residences Orlando, the
largest InterContinental hotel worldwide, with a mix of 1,260 luxury hotel and
hotel condominium units. The resort is an official hotel of the Orange County
The resort will also include The Villas at Palazzo del Lago, a 994-unit
resort residential condominium development comprised of five separate towers
of 18 stories each, each with its own set of amenities, including a swimming
pool, fitness center and Smart technology.
Construction on Phase I, which encompasses the InterContinental Resort &
Residences Orlando and the first resort residential tower, is scheduled to
start in the fall 2006. The resort is expected to open in early 2009.
"We're very excited about bringing this signature resort embodying the
modern lifestyle in an old-world setting into what we believe is one of the
most unparalleled and robust tourist destinations in the world," stated
Jerrold Krystoff, principal and CEO of HDG.
One of the few waterfront resorts in the area, Palazzo del Lago is being
developed on 42 acres located on Lake Bryan, a 214-acre spring-fed lake, with
its main entrance on International Drive, just two minutes from Disney. In
addition to nearby attractions, owners, guests and their families will enjoy a
full complement of resort activities and amenities onsite. Among the
highlights are a world-class spa, a water sports facility, five themed
restaurants, putting green, tennis, and an elegant resort pool with cascading
fountains. Additionally, the InterContinental Resort & Residences Orlando will
offer a comprehensive conference facility with more than 114,000 square feet
of convention, meeting and banquet space.