ORLANDO, Fla. -

Universal Orlando announced on Monday that it is building a new hotel that will provide another option for guests wanting to stay on property.

Universal's Cabana Bay Beach Resort, which it describes as a "hip, vintage look," will offer both family suites and standard rooms. The Loews Hotels & Resorts operated property is scheduled to open in 2014.

The 1,800-room hotel will be built on a 37-acre site within Universal Orlando Resort and adjacent to Universal’s Islands of Adventure, just off Hollywood Way and Turkey Lake Road, according to Universal Orlando.

Cabana Bay Beach Resort will be the largest resort on the property -- double the size of any of its other resorts.

Universal said the new hotel will give guests a more affordable on-site option as compared to Loews Portofino Bay Hotel, the Hard Rock Hotel and Loews Royal Pacific Resort.

"Anytime you can save money it helps, because it allows us to do more in the area while were here," Todd Morrison said Monday while vacationing in Orlando from Georgia.

The vintage themed hotel will have 900 standard guest rooms and another 900 family suites that include kitchen areas. A feature families say would save them money from dining out each night.

"That's your major expense. Food especially for a family of four," Brenda Morrison said. "I hate to cook on vacation but sometimes when you're trying to save money on vacation you do what you can."

The new resort will also provide early park admission, proximity to Universal’s Islands of Adventure and Universal Studios and resort-wide charging privileges, but it will not offer complimentary Universal Express Unlimited Access.