MINNEAPOLIS— Radisson Hotels & Resorts is still floating the idea of sinking some significant dollars into additional full-service lodging properties— despite the apparent uncertainty of the times and the economy. Last week, Radisson reiterated its game-plan of “actively seeking additional investments in existing full-service hotel properties in the top 25 – 30 major domestic metropolitan markets, in both city centers and primary suburbs, that can be repositioned within the Radisson brand.” The most notable recent example of this stance was the hotel company’s joint-venture (with an affiliate of Apollo Real Estate Advisors) buy-up of the Radisson Plaza – Warwick Hotel Philadelphia. As noted by Radisson Hotels & Resorts President Jay Witzel and those working with him: “The company believes that an attractive investment opportunity currently exists to acquire, refurbish and convert hotels from the mid-market segment, where many properties tend to be under-managed and under-branded.”
