Dow buys San Antonio Radisson

The Dow Hotel Company has announced the
acquisition of the 227-room and -suite Radisson Hill Country Resort and Spa
in San Antonio, Tex. The purchase was made in a joint venture with
Prudential Insurance Company of America for an undisclosed amount from FFI
Real Estate USA, LLC. It is the company’s second acquisition in the past
week.
  Located minutes from downtown San Antonio and next to Texas’ premier
theme park, Sea World, the resort will undergo a thorough planning process
to determine how to further enhance the property’s facilities. DHC will
manage the property and oversee the enhancement program.
  “This is a superb facility for business and leisure travelers, and we
will invest significantly to make the Radisson Hill Country Resort and Spa
one of Texas’ premier destinations,” said Murray L. Dow II, DHC founder and
president. “We are committing significant resources and a great deal of
energy to totally upgrading this magnificent property located in a great
setting.”
  “San Antonio is a vibrant city that is attractive to both business and
leisure travelers,” Dow noted. “By creating a world-class resort facility,
we expect to contribute to the growth of San Antonio’s regional economy and
to create additional economic opportunities for local residents.”
  Located at 9800 Westover Hills Boulevard, the full-service resort and
spa is in one of San Antonio’s most desirable locations with its close
proximity to Sea World and several newly located major corporate
headquarters.
  The Radisson Hill Country Resort & Spa was constructed in early 2002
and combines traditional Texas decor with modern leisure amenities while
catering to the needs of the most discerning business and leisure traveler.
The hotel pampers guests with three swimming pools, four food and beverage
outlets, two retails shops, 100 suites and a 6,000 square-foot popular day
spa. The day spa and health facility boasts four indoor and two outdoor
treatment rooms and features the only outdoor spa treatment area in San
Antonio.
  “Meetings and social events such as weddings will be an important part
of the hotel,” Dow noted. “With 10,000 square feet of flexible meeting
space, we can host groups of up to 300 people. Our scenic setting in Texas
Hill country will appeal to both our meeting and social event planners.”
  “We continue to aggressively seek acquisitions,” said Mark Rosinsky,
Dow’s senior vice president of hotel investments. “Our target candidates
remain hotels and resorts with 200-400 rooms that can benefit from
repositioning and strong hotel management. Typical of this target is this
acquisition and the Doubletree Hotel O’Hare Rosemont we purchased last week
in a separate joint venture with Prudential. We remain on target to double
our revenues this year with a combination of acquisitions with a number of
joint-venture partners and from strong growth at our existing properties.”
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