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The 6-year-old, 245-unit Park Suites Hotel at 8978 International Drive is being sold to competitor Embassy Suites Inc. for a price local hotel experts speculate will be under $15 million. The transaction is expected to close Oct. 15.
The sale leaves the 5-year-old, 210-unit Park Suites Hotel at 225 E. Altamonte Drive in Altamonte Springs as the Sara Group of Stockholm's only hotel in Central Florida. The Swedish hotel and restaurant company acquired a majority interest in Orlando-based Park Suites in 1985.
Bob Barenberg, the Park Suites' general manager, has advised vendors that invoices for goods, supplies and services ordered by the hotel after Oct. 15 should be …