SPOTLIGHT
A major new deal between Walt Disney World and the Central Florida Tourism Oversight District authorizes a maximum of five major theme parks — one more than Disney has in Orlando now. Its fourth theme park, Animal Kingdom, opened 26 years ago, joining the Magic Kingdom, Epcot and Hollywood Studios.
Disney has not announced a fifth park, but industry insiders are predicting it will take that step in order to compete with Epic Universe, Universal Studios’ newest park, which opens next year.
“I’ll bet you 10 to one that Disney announces a new ‘fifth gate’ within the next 16 months. They have to because of their longtime dominance in the Orlando market,” says Dennis Speigel, CEO and founder of International Theme Park Services, a consultant for theme park projects. “They have the property, they have the I.P. (intellectual property), and they have the creativity and capability.”
The agreement between Disney and the tourism oversight district calls for Disney to invest $17 billion over 10 to 20 years while the district builds roads and other necessary infrastructure.
The district, which provides government services to Disney World, used to be essentially controlled by Disney. But due to a political feud between Gov. Ron DeSantis and Disney, the Legislature gave the governor the power to appoint the district’s board members. It was the governor’s appointees who unanimously approved this deal after they and Disney settled a high-profile lawsuit over control of the special district.
In other words, the two sides appear to have made peace.
BANKING
- At a time when bank branches are disappearing nationally, Chase Bank will add more than 10 branches in Central Florida and three on the Space Coast over three years. It’s part of a plan to add 500 branches nationwide by 2027. Chase will focus on growing communities along the Interstate 4 and U.S. 27 corridors, as well as places like Davenport that don’t have a Chase branch yet, with some branches designated for low-to moderate-income communities in Inwood, Lake Wales and Leesburg. Meanwhile, Fifth Third Bank is adding five more locations in Central Florida, in Orlando, Clermont, Mount Dora, Winter Garden and Winter Springs.
HOSPITALITY
- Brevard County has been a hotbed of hotel construction in recent years, mostly because of the increased cruise ship traffic at Port Canaveral, the world’s second-busiest cruise port. Space Coast tourism officials predict that as many as 11 more hotels could open in Brevard through the end of 2025, adding more than 1,300 rooms.
SPORTS BUSINESS
- Florida Citrus Sports, the nonprofit that manages events at Orlando’s city-owned Camping World Stadium, is seeking to host the Jacksonville Jaguars’ home games in 2027 while the NFL team’s new stadium is being built. Camping World Stadium is getting a $400-million upgrade funded by Orange County tourist taxes. However, the Jaguars are also considering the University of Florida’s Ben Hill Griffin Stadium, which is closer to Jacksonville.
HEALTH CARE
- AdventHealth is building its first hospital in Orlando’s fast-growing Lake Nona area. The 10-story, $423-million hospital is to open in 2026 with 80 beds and the potential to eventually expand to 320 beds. A medical office building will be built there too. The Altamonte Springs-based nonprofit health system already has a freestanding emergency room in Lake Nona, which will remain until the hospital opens.
- HCA Florida Healthcare has opened an 11,000-sq.-ft. freestanding emergency room in Orlando near the University of Central Florida and another 11,000-sq.-ft. ER in Maitland. The $13.5-million and $17.7-million ERs each have 11 exam rooms and the equipment to perform X-rays, CT scans and ultrasounds. HCA also has five hospitals in the greater Orlando area.
TRANSPORTATION
- This fall, the discount carrier Flair Airlines will begin flying between Orlando International Airport and four Canadian destinations. They include Toronto; London, Ontario; Kitchener-Waterloo, Ontario; and the seaport city of Saint John, New Brunswick. Plane tickets will cost $44-$124.
REAL ESTATE
- In one of Central Florida’s largest industrial transactions in recent years, the Lee Vista Business Center, an 81-acre business park just north of Orlando International Airport, sold for $120 million. California-based LBA Logistics bought it from a Blackstone subsidiary. The property has 635,000 square feet of warehouse and office space, with room to grow. A blighted 75-acre plot of land near Sanford where the Flea World attraction was once located will be redeveloped nine years after the flea market closed. Seminole County approved plans for up to 1,003 apartments, a 200-room hotel and 1.3 million square feet of retail and office space off U.S. 17-92.
TRADE
- The British Consulate-General in Miami has appointed marketing consultant Justine Assal as His Britannic Majesty’s Honorary Consul for Central Florida.
IN MEMORIAM
“Florida has a large minority population. One of the most important issues is for these populations to participate fully in the economy.”
— Inez Long, the longtime president and CEO of the Orlando-based Black Business Investment Fund, died suddenly in June. She led the organization for three decades.
“Everything rises and falls on leadership. It always has. It always will.”
— Pat Williams, co-founder of the Orlando Magic and a longtime NBA executive, died in July at the age of 84 from complications due to viral pneumonia. He authored more than 100 books, completed 58 marathons and is survived by his wife and 19 children, 14 of whom were adopted.