One of the official partner hotels of Walt Disney World has been sold by the building's longtime owner for $127.2 million.
Tishman Hotel & Realty LP said Tuesday it "decided to take advantage of pent-up demand" for well-performing properties and sold the Hilton Walt Disney World Resort to Hilton Worldwide, which has been managing the hotel for nearly three decades.
"During our nearly 30-year ownership of the hotel, the Hilton posted strong returns and consistently outperformed its competitors," Tishman stated. "We maintain a strong presence in the Orlando hospitality market and continue to own the Walt Disney World Swan and the Walt Disney World Dolphin."
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