Kissimmee hotel sells for $7 million

The former Howard Johnson-Heritage Park hotel in Kissimmee sold to a San Francisco firm for $7 million, or nearly $35,000 per unit, the Orlando Business Journal reports. Menlo Capital Group LLC’s 201 Simpson Road LLC bought the nearly 200-room hotel on Simpson Road between U.S. Highway 192 and Florida’s Turnpike from Hollywood-based Mazel Investments LLC. Akhil Suri, a managing director of Menlo Capital Group, was unavailable for comment on plans for the property by press time. CoStar Group reported the hotel has been closed for more than a year due to severe water damage, and the lobby had been destroyed.