A new luxury hotel is being planned to replace Anaheim Plaza Hotel & Suites. The real estate project is expected to be finished in 2018.
According to The Orange County Register, The Wincome Group has proposed plans for the new luxury Anaheim hotel near Disneyland. Good Hope International, The Wincome Group's affiliate, will be in charge of the construction.
The report states that the new property will be situated on 8.8 acres of land near Harbor Boulevard and Disney Way. The new hotel is expected to feature 508 rooms and "25,600 square feet of retail and 50,000 square feet of meeting space." The project will reportedly cost more than $160 million.
The new luxury hotel is set to replace Anaheim Plaza Hotel & Suites, which was previously known as the Charterhouse Hotel in the 1960s. After several name and owner changes, the Wincome Group acquired the property in November last year.
"We believe the market is ready for another four-diamond hotel in Anaheim," asset manager for the Wincome Group, Paul Sanford, said, as quoted in the report.
"We're seeing higher-end conventioneers and higher-end leisure tourists with the expansions going on at the Convention Center and at Disneyland. We think it will contribute to the higher-spending demographics of people wanting to stay and spend in the area," he added.
The development plan of the property states that the new luxury Anaheim hotel is set to open in 2018. It is still unknown how much a room would cost in the new property.
Meanwhile, Orange County Business Journal recently reported that Disney and Cedar Fair hotels achieved higher revenue and income in the recent quarters due to strong hotel market.
"Walt Disney Co.'s parks and resorts division, which includes the Disneyland Resort in Anaheim had operating income of $738 million on revenue of $4.4 billion in the entertainment company's fourth quarter, up 7% and 10%, respectively, compared with $687 million in operating income on $4 billion in revenue for the same period last year," the report said.
The higher revenue was also attributed to "higher spending on hotel stays."
