ROCP was formed this past year between Olympus Real Estate Partners and Carlson Hotels Worldwide to acquire hotels for conversion and management under Carlson's Radisson and Regent International Hotel brands. The ROCP partnership is seeking additional investments in existing full-service hotel properties in the top 25-30 major domestic metropolitan markets.
The hotel, built in 1928 as the Lord Baltimore Hotel, is listed on the National Register of Historic Places. Previous renovations have maintained its period architecture, and over the next 18 months more upgrades are planned, including creating concierge guest floors targeting the corporate traveler.
"The hotel is an excellent match for our criteria for strategic growth and investment and a flagship property for our brand," says Radisson Hotels & Resorts president Jay Witzel. "Baltimore is in the midst of a major renaissance with extensive public and private economic development."
"Radisson-Olympus Capital Partners is a fully funded partnership with debt and equity in place, and the ability to move quickly," says Stephen Miller, executive vice president-development and acquisitions for Radisson-Olympus Capital Partners. "We are interested in acquiring full-service hotels with more than 200 rooms and between 8,000 - 20,000 sf of meeting space."
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