Radisson-Olympus JV Scouts Are Out, About

DALLAS-The scouts are out for the next joint venture buy as doors swing open on a $6-million makeover of the former Clarion Hotel in North Dallas. Radisson-Olympus Capital Partners, an alliance formed last year, is sizing up hotel properties in the Midwest and Southeast.

But yesterday, all eyes had been turned to the Radisson Hotel Dallas North at Richardson, the first repositioned, re-branded top-to-bottom makeover in the joint venture’s fledgling portfolio. The Radisson branding also is in effect for a Downtown Baltimore Hilton, which had been in premier condition and underwent the name change as soon as final papers had been signed just eight weeks ago. “These are good examples of the types of acquisitions that we will continue to see within that particular strategy,” Clark Hanrattie, an Olympus partner, tells GlobeSt.com.

Hanrattie won’t tip his hand as to precisely where the next acquisition will be, but he has pinned it down to a major market in the Midwest or Southeast. Right now, there is no property under option, but says Hanrattie,” we have an appetite for additional acquisitions.”