Development Planned For Orange Beach, Alabama - 10/2/2009 2:20:00 PM - Hotels

Development Planned For Orange Beach, Alabama - 10/2/2009 2:20:00 PM - Hotels: "Balmaquien Hospitality, LLC, an Innisfree affiliate, has closed a $31 million loan for the acquisition of a 2.6 acre site and construction of a nine-story, 160-room beachfront hotel in Orange Beach. The site is located directly across from the Shoppes at Palm Pointe and will feature garage parking, a pool bar and dune walk-over. Additional amenities include a second floor fitness center with Gulf of Mexico views, 5000 square feet of gulf front meeting space and an indoor pool.

Innisfree is in the process of selecting a general contractor and franchise for the hotel, and an announcement is expected in the next few weeks."