Stories to watch in 2025
Hotel development in North International Drive area
The long-awaited theme park Epic Universe will open May 22, and with it comes new hotels, since industry experts like Paul Sexton, managing director of hospitality real estate at HREC Orlando, say the current inventory likely isn't enough to handle the influx of visitors.
It's possible Universal's three hotels built specifically to serve Epic Universe visitors — Universal Stella Nova Resort, Universal Terra Luna Resort and Universal Helios Grand Hotel — are on the front end of more hotel development.
At a Jan. 16 media preview of Stella Nova, Senior Vice President of Operations David Bartek of Loews Hotels at Universal Orlando told OBJ, "We've had a long-standing partnership with Universal in spans over two and a half decades. We are open to any other opportunities that might be afforded us here or elsewhere. We are always listening for unique and good business opportunities."
Shutdowns in downtown Orlando
On Jan. 16 and 17, Hearing Officer Patrick Brackins considered claims made by the city that 20 downtown venues had violated the terms of their after-midnight alcohol sales licenses. The license process was instituted in early 2023 to compel bars in the downtown entertainment area to subsidize late-night police protection.
Bars like Chillers, Irish Shannon’s, Cahoots, High Tide and Ember closed, unable to keep up with the expense of paying for off-duty police in addition to the security staff they already had engaged. For some venues, the costs reached into the hundreds of thousands per year. Dozens more locally owned small businesses in the downtown entertainment area are at risk for closure in 2025.
Jeff's Bagel Run goes national
Jeff's Bagel Run has expanded rapidly since President Justin Wetherill came on board, embracing a franchise model that so far has met no limits.
Wetherill said the company is on track to have 50 locations open by the end of 2025, already having opened stores or signed franchise agreements in Florida, Georgia, North Carolina, South Carolina, Nevada and Texas.
The homegrown bakery hasn't lost momentum in the Sunshine State, either. The company on Jan. 15 revealed another 13 stores coming to Florida, and OBJ has it on excellent authority that announcements for more stores nationwide are coming soon.
Following brands like Olive Garden, Ruth’s Chris Steak House and Hard Rock Cafe, Jeff's Bagel Run could be the next big Orlando-headquartered restaurant chain.
Bankruptcy pile-up
Business is booming in the areas of corporate Chapter 11 and restructuring. So says Scott Shuker, a business bankruptcy attorney currently representing Hawkers Asian Street Fare, a restaurant chain that got its start in Orlando before expanding outside the state.
"I expect Chapter 11 work to increase well beyond the current levels in the next 12 to 18 months. Almost all economists agree tariffs are passed on to consumers which, in turn, increases prices and inflation. If the Federal Reserve once again increases rates to combat inflation, floating loans are harder to service and Chapter 11 cases rise," said Shuker.
Further, he said, if Gov. DeSantis follows through on mass deportations of undocumented immigrants, expenses related to labor in the agricultural, homebuilding and hospitality sectors will skyrocket and so will the number of bankruptcy cases.
Orange County property values in the crosshairs
Critics say the "Rushmore Approach" to property valuation inflates the value of real estate because it includes income from operations, like restaurants and merchandise shops.
Universal Orlando, Walt Disney World and a slew of other significant tourism and hospitality companies are fighting back against Orange County Property Appraiser Amy Mercado's use of the method, suing Mercado over the controversial valuations.
If a Sept. 23 appellate ruling in favor of Disney regarding a Yacht & Beach Club property assessment holds up, changes to the county's property tax system could have serious ripple effects on local government funding, particularly for public schools.
