Hyatt Hotels closed the sale of its 1,641-room Hyatt Regency Orlando for $1.07 billion and also announced a deal with the buyers to build a new Grand Hyatt luxury hotel right next door.

A 45-acre lot adjacent Hyatt Regency Orlando will be the site of a new 2,500-room hotel near Orange County Convention Center. New north I-Drive vision plan to encourage development Celebrity DJ ...