Orlando’s set to get a new, 1,000-room hotel by 2016, the Orlando Business Journal reports, citing Loews Hotels & Resorts press release.

The hotel will be located at Universal Orlando and have a Caribbean theme plus 131,000 square feet of meeting space. It will rise between the new Cabana Bay Beach Resort and the Loews Royal Pacific Resort.

The addition marks the latest deal for Loews, which has been on a growth spurt under CEO Paul Whetsell. It will also bring an additional lodging and meeting option for both consumers and meeting planners in one of the biggest destinations in the U.S.

“For planners and consumers, it is huge (news). For the other hoteliers, they are probably not happy,” says Orlando meeting planner Lauralee Shapiro, global account executive with ConferenceDirect.

She’s referring to the fact that new supply can help drive down average rates.

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For other hotels, including mid-sized hotels, she said that the new hotel will present another option for 150-person groups. “I know demand is way up but I personally am not sure if the destination needs another 1,000 rooms. Four Seasons just opened and Loews just added (more) at Cabana Bay,” she said.

The new hotel could help Loews compete against the big convention-center hotels on International Drive such as the Hilton and Hyatt Regency, Shapiro said.

Readers: Where do you like to stay and/or hold meetings in Orlando? Why?