WINTER PARK, Fla. — Winter Park visitors will have a new place to spend the night.
The lavish, $40 million Alfond Inn owned by Rollins College opened with a grant from the university's foundation.
The hotel is on 300 E. New England Avenue.
Officials said the money the hotel brings in will go directly back to the students and is believed to be the only hotel in the nation where 100 percent of the net proceeds are going to fund student scholarships.
That will continue until the endowment reaches $50 million or 25 years, whichever way makes more money for scholarships, officials said.
The 112-room hotel matches Rollins College's Spanish-Mediterranean style with a contemporary flare.
"It's a beautiful spot. This becomes the landmark icon of the Alfond Inn," general manager Deanne Gabel said.
While the place is posh, officials said it's mission is not about profit, but about paying students' way to Rollins College.
finance and treasurer started the project with Rollins College five years ago.
"We refer to them as the best and the brightest. Those with academic credentials who will be recruited and offered full scholarships at most selective private liberal arts schools," Eisenbarth said.
College officials said they needed a place for parents and students to stay when they came to tour the college.
"I've been walking around today with a huge smile on my face," Eisenbarth said.
The Alfond Inn is offering special welcome rates through next month of $99 a night.
Rollins College could have chosen to pursue a nonprofit status for the hotel, but officials said they chose not to because they prefer to contribute taxes to the community.
WFTV
