LOS ANGELES Tough capital-raising times in the lodging industry may well play right into the hands of Radisson/Olympus Capital Partners (ROCP), according to Radisson Hotels and Resorts EVP Stephen Miller.
With one major deal already to its credit since the joint-venture s formation a few month s ago, Miller told HOTEL BUSINESS. at the UCLA Hotel Industry Investment Conference here that ROCP is well-suited to add as many as 10 properties to its fold this year, bringing them up to their full RevPAR level (not over it) in the process.
Following a long-term ownership strategy, ROCP only needs to be concerned with the deal s due diligence, Miller said. Everything else equity and debt capital, brand affiliation, management preferences, etc. is already in place, he added.
In the final analysis, Miller maintained deal-making shouldn t be approached like it s rocket science. Plain and simple, it s a Radisson repositioning, he said, adding that s usually enough to make any sensible hotel real-estate deal work. (1/17/01) Michael Billig