Hotel Group Acquires Radisson in Kansas City
Planning $12 million in Renovations to the Rebranded Crowne Plaza
EDMONDS, WA, September 11, 2007. The Hotel Group (THG), the largest independent hotel management company in the Pacific Northwest, has acquired the 388-room Radisson Hotel and Suites in downtown Kansas City, MO. Upon acquisition, the hotel was re-branded as a Crowne Plaza adding to THG's rapidly growing portfolio of upscale, full-service hotels.
Situated in the heart of City's central business district, the 28-story high-rise located at 1301 Wyandotte Avenue, is a prominent part of the downtown skyline. In addition to 388 guest rooms -- 99 of which are two-room suites - the hotel features 13,000 square feet of meeting space, a business center and ballroom on the 28th floor. Located off the hotel's main lobby is a full-service restaurant and lounge. The hotel incorporates a parking garage with 268 spaces.
The Hotel Group will infuse more than $12 million in renovations and upgrades to reposition the property as an upscale business hotel serving both the corporate and groups market. The transformational renovation will ultimately encompass nearly every facet of the property with exterior upgrades as well as a full lobby and guest room overhaul.
"Kansas City is home to a number of Fortune 1000 companies where both headquarters and regional operations are located. Thanks to very forward-thinking city developers, the transformation of the central business district will pave the way for significant and sustainable future growth, said Edmond Lee, founder and chief executive officer, The Hotel Group. "In total, public and private improvements to the area adjacent to the hotel will exceed $4.5 billion and will include a nine-block entertainment district. We believe these are optimal market conditions for the reintroduction of this landmark property and THG is fully committed to delivering and operating a first-class, full-service hotel in Kansas City."
"Historically, this hotel represents the largest 'all-in' acquisition for us and is our second largest property in terms of number of guest rooms," said Doug Dreher, THG president. "Led by my Vice President, Lara Latture this acquisition is a testament to the caliber and professionalism of our corporate and property-based team who spent countless hours to achieve an extremely positive outcome with the transition."
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