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Tel: +1 (905) 415-9267 or +350 200 400 48

Joint venture sees hotel acquisition

23rd Jan, 2013back

322 A joint venture undertaken by a private investment group and Waramaug Hospitality LLC has resulted in the acquisition of Radisson Resort Orlando - Celebration and the subsequent appointment of Interstate Hotels & Resorts as its management firm.

 

Located in Celebration, Florida, the 718-room resort will be the fifth addition to the portfolio of the Waramaug and Interstate Hotels & Resorts partnership. Interstate works with affiliates to oversee the management of 375 hotels in North America, Europe and Asia-Pacific. It also has agreements with 36 hotels currently under development or construction in various locations across the globe.

 

Interstate's CEO, Jim Abrahamson, said: "We're looking forward to another beneficial partnership with such a strong leader in hospitality real estate investments, and with the planned improvements this hotel will reach its full potential and assume a larger leadership role in this market."

 

Celebration, Florida is home to classic architecture and nostalgic charm, and encompasses the renowned hospitality of the sunshine state. Just a few minutes away from Orlando's theme parks and other tourist attractions, which include restaurants, shopping malls and golf courses, the resort already attracts a significant number of holidaymakers.

 

With $9 million of upgrades and enhancements made to the guest rooms and the communal areas of the resort, the increased popularity of the hotel is almost guaranteed.

 

Paul Nussbaum, Waramoug's chief executive, said: "As one of the top tourist destinations in Florida, Orlando was a natural choice for the hotel's location and the Radisson Resort Orlando is minutes away from the city's top attractions." He went on to add: "With the prime setting and the approaching renovations, this hotel will thrive under Interstate's operating expertise."