Sports Tourism is a $600 billion global travel industry. 2.3 billion participate in amateur sports worldwide. Central Florida is the Amateur Sports Capital of the world and #1 Tourist destination in the United States.
Xero Gravity Action Sports, LLC, is tapping into the high demand for Action Sports & Amateur Tourism with the proposed development of a $313 million Action Sports & Entertainment Complex on 75 acres in the Orlando, Florida market. The firm will cater to the 62 million tourists who visit Orlando yearly, to professional and amateur action sports athletes for competitions and training, and to the millions of amateur sports participants who flood the Orlando sports market for competitions each year. There is an operational partnership with IMG Sports.
Stabilized first year projected EBITA is $55 million, increasing to $89 million by year five. It boasts a 61.3% cash-on-cash return with a 5th year exit strategy projected at $734 million cash flow for distribution on the sale at (includes payment of debt).
The Action Sports & Entertainment Complex combines a multiple marketing approach which includes guest participation, sports shows, competitions, training, and leisure activities. The complex will showcase amateur and pro competitions 365 days a year in snowboarding, skiing, surfing, skateboarding, BMX, skydiving, rock climbing, and other popular action sports activities. Made for television events will include action sports celebrities, X-Games, Red Bull, and other popular events.
Local Visitor draw is expected to pull from the 62 million visitors that visit Orlando each year. 3.5 miles from the Complex is ESPN Wide World of Sports which hosts over 2 million amateurs per year for various “ball and stick” competitions and training. Disney is 3.5 miles from the site and in 2014 welcomed 18 million guests through their gate. Xero Gravity financial projections are based on a modest 1,020,000 visitor count for the first year.
An Action Sports & Entertainment Resort specializing in leisure, competition, training, and multi-media productions.
A seasoned developer, Larry has been involved in over $2 billion in commercial real estate development and transactions since 1985.
Founder and developer of Business Condos USA, a national commercial real estate development company franchised in 2005. Twice nominated as Developer of the Year by the National Association of Industrial and Office Properties Association (NAIOP) and was ranked 4th largest developer in North Florida.
A specialist in ground up development, marketing, and sales.
Larry is a licensed Florida Real Estate Broker and also holds a Florida 220 commercial insurance license. He is a 1982 graduate of the University of Tennessee and lives in Atlantic Beach, Florida with Michelle, his wife of 30 years.
Larry is active in the sports community and enjoys surfing, kayaking, jet skiing, snow skiing, biking, and Scuba diving.