I agree with most of the logic here, but I just don't see where they are going to find 100 acres to use for hotels on the main property. Looking at the infrastructure plans, it seems like 2 parks and a water park plus parking will take up almost all of the space. I can see a couple small hotels fitting, but I can't visualize anywhere near 100 acres.
Were you counting some of this in the 100 acres expectation?
I'm of the opinion that they will really need to cram in rooms on the offsite parcels, and also that the additional UCPM ones would be really helpful.
They already have the 20 acres west of Topgolf, and 20 acres south on Destination pkwy, each of which should be good for a 1500-2000 room tower style value resort. (Dockside is 2050 rooms on 24 acres.) Getting the western UCPM parcel would allow for another hotel of similar size.
The 15 acres south of the substation looks good for a potential 750-1000 room moderate hotel regardless of additional acquisition, but getting that "middle" UCPM parcel would allow for a 2000+ room prime value to be built there as well.
So they can fit a LOT of rooms on disconnected parcels, but I think they will be really hurting for land to build hotels on the main area.