New Old Town Owners Plan Cultural Programming Expansion
Retailers at the Kissimmee site should prepare for shifting event schedules as the new owners aim to boost community engagement.
Updated on Oct. 21, 2026 in Openings & Closings
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Todd and Radha Rambilas acquired the 18-acre Old Town entertainment district in Kissimmee for $24.5 million in September 2026. The new ownership intends to build on the existing 132,000-square-foot retail and dining footprint by expanding event programming.
Why it matters
The change in ownership marks a shift toward new, culturally diverse community programming intended to increase visitor traffic and footfall. Operators at the site may see shifting promotional strategies as the new owners seek to integrate celebrations like Diwali and Holi into the district's annual calendar.
The 18-acre Old Town site sold for $24.5 million in September 2026, representing a premium over the $20 million acquisition price paid by The Travel Corp in 2014. The center now spans 132,000 square feet, up from earlier configurations that included long-standing tenants like Wound 'N Around.
The players
Todd and Radha Rambilas
The new owners and operators of the Old Town entertainment district in Kissimmee.
The Travel Corp
The prior owner that held the property from 2014 to 2026 and invested $20 million in site improvements.
The details
The new ownership plans to leverage the existing 86-foot-tall Ferris wheel and established foot traffic to host a recurring calendar of cultural celebrations. By curating events inspired by Caribbean traditions, Diwali, and Holi, the owners aim to differentiate the district from standard retail centers. This strategy builds on the infrastructure investments made by the prior owner, which totaled $20 million and included the addition of the jukebox-themed entry sign and significant retail expansion in 2020.
Timeline
December 1986: Wound 'N Around opened for business.
2014: The Travel Corp purchased the property.
2020: The site expanded to 132,000 square feet with new shops and restaurants.
2024: Faux Paws Dog Shop opened at the site.
September 2026: Todd and Radha Rambilas purchased Old Town.
Market Landscape
The $24.5 million sale marks the second major ownership transition for the site since the 2014 acquisition by The Travel Corp. This deal follows a period of expansion that grew the district to 132,000 square feet.
Operators within the district should monitor the transition to the new event calendar to assess potential impacts on peak traffic hours and customer demographics. Merchants should also look for updated marketing guidelines or promotional requirements as the new owners begin implementing their cultural programming strategy.
The takeaway
The ownership shift signals a move toward event-driven retail strategies to drive year-round engagement. Business owners at the site should review their current lease agreements for any clauses regarding property-wide marketing fees or required participation in district-led events.
Further reading
For more local retail news, visit our Kissimmee Openings & Closings section.
Source note: This article includes information reported by Orlando Sentinel.
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