The Grove Resort & Water Park, a luxury vacation home destination minutes from Walt Disney World, has launched sales of its final phase. Selling from the $300,000s, the fully furnished condominiums at The Sterling Tower can be placed in a hotel rental program to offset ownership costs. The Sterling Tower consists of 293 two- and three-bedroom residences ranging from 1,250 square feet to 1,550 square feet.
The Grove is moving closer to selling out the 293 residences in the phase 2 ‘Marquis Tower’, which opened in March 2018. Phase 1 ‘Premiere Tower’, with 292 residences, is sold out.
“Our strong sales speak to the strength of the Orlando market and the demand for a highly amenitized, easy to manage vacation home,” said Noah Breakstone, CEO & managing partner of BTI Partners. “When buyers are away, they can leave the rental management to our professionally managed and staffed hotel program, taking the stress out of owning a vacation home.”
The short-term/hotel rental program is operated by Benchmark Hospitality, a top-ranked international hospitality management company.
The Grove is currently offering new owners a 10 percent guaranteed leaseback on the condos participating in the hotel program until the end of 2020. Since opening in 2017, The Grove has seen a continued increase in occupancy, reaching a stage where the hotel is sold-out during certain days.
With the completion of the Sterling Tower, the 2-million-square-foot resort now offers a total of 878 resort-style residences that come with full kitchens, living and dining areas, full-size washer/dryers, and screened patios.
The residences come with three swimming pools, onsite spa, fitness center, high-end restaurants, large-scale grab-and-go market, lakefront pier for watersports, and three bars and lounges. Its amenities include the award-winning Surfari Water Park, offering multiple slides, a lazy river, and a FlowRider, and a 6,300-square-foot game room.
“At The Grove Resort & Water Park, we continue to think outside of the box to provide the most value for our buyers,” said Dominic Pickering, Director of Sales at The Grove. “Our strategy is paying off. Increasingly, we are seeing buyers come to us from all over the world. The Grove highlights Orlando’s growing positioning as a top U.S. destination to invest in real estate.”