The Nickelodeon Hotels & Resorts Orlando, expected to open in the first quarter of 2027, is beginning to take shape, and Zafir Rashid is still at the center of the project’s development. With over two decades of experience in real estate and asset management, Rashid continues to oversee the day-to-day planning and execution of one of Florida’s most ambitious resort destinations.
The resort, developed in partnership with Paramount and Lionstar Hospitality, will feature over 400 keys, including hotel rooms and branded residences, alongside themed restaurants, a custom-designed water park, and entertainment experiences built around Nickelodeon IP such as SpongeBob SquarePants, Paw Patrol, and Teenage Mutant Ninja Turtles.
“We wanted to create something truly immersive,” said Rashid during a recent interview. “There’s a slime machine. There are signature suites. Even the restaurants are themed. The goal is for families to walk in and instantly feel part of the Nickelodeon universe.”
Rashid’s early acquisition of a strategic parcel which was close to Disney, but unrestricted, was a key factor in bringing Nickelodeon back to Orlando after a long absence. “Lego Land is over an hour away from Disney.” Rashid explained. “Here, we found a rare piece of land where we could bring the brand in without limitations.”
Rashid’s role includes managing a wide network of consultants, development teams, and hospitality experts. Mock suites have already been developed to meet Paramount’s specifications down to the smallest details—from cushions to custom fixtures. Over 100 people are involved in the planning and construction, and once operational, the resort is expected to employ another 300 to 400 staff members.
Beyond the resort itself, the project is part of a broader $1.5 billion master-planned development known as Everest Place. The full site includes retail, dining, entertainment, and hospitality assets. Major stakeholders include Texas-based AMSYS Development, which has played a significant role in advancing the project.
Currently, Rashid and his team are awaiting final permits before construction goes vertical. The horizontal infrastructure—roads, utilities, and foundational work—has already been completed after nearly six years of planning.
“We’re hitting our milestones,” said Rashid. “There’s real capital in play, and we’ve put our own skin in the game. That’s what it takes to move a project of this scale forward.”
Rashid now leads the Teramir Group of Companies, a global development management firm with hospitality and infrastructure projects across the U.S. and the Middle East. While his background includes founding Everest Group in 2003, Teramir represents his next chapter as well as a move toward larger-scale, globally integrated developments.
The Nickelodeon resort is expected to become a flagship property, offering families the chance to stay in branded suites, explore themed attractions, and buy residences that generate rental income year-round. And for Rashid, it’s about delivering an experience that lasts.
