Hotel Online  Special Report

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 Intergroup Arranges $43,500,000 Sale of 718-room
Radisson Resort Near Walt Disney World

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Houston, Texas – September 16, 2004 – Tandy O. Lofland, president and founder of Intergroup Realty, Inc. and the Intergroup companies arranged the recent sale of the 718-room Radisson Resort Parkway, Kissimmee, Florida on behalf of an affiliate of the owner, Concorde Finance & Investment, Inc., to a U.S.-based real estate investment fund.

The full-service resort hotel was developed by Intergroup in two phases in 1987 and 1991 and has been under the same ownership since it opened.  It is located within The Parkway, a 195-acre mixed-use project also developed, marketed, and managed by Intergroup and which when completed will contain several thousand hotel and time-share units and over 100,000 square feet of retail, restaurants, and tourist attractions.  The Parkway is located next to Walt Disney World and across the street from Disney’s new city Celebration.

The Radisson contains some 7,000 square feet of meeting space, two large pools, a full-service restaurant, deli, sports lounge, a full complement of other amenities, and 7 lakes on over 21 lushly landscaped acres.  An extensive renovation was completed in 2001.

The Radisson Resort Parkway marks the latest Intergroup project or transaction with Concorde and its affiliates.  Other projects involving the firms include the Four Seasons Buenos Aires, Argentina and Four Seasons Resort Carmelo, Uruguay.

About Intergroup:

Intergroup, formed in 1980, provides transaction and development services for hospitality and commercial properties in the U.S., Europe, the Caribbean and Latin America, with an emphasis on full-service first-class hotels and resorts.  Company experience includes development, marketing, and management of The Parkway, a 195-acre mixed-use development next to Walt Disney World in Orlando, and transactions or projects involving such hotel brands as Four Seasons, Hilton, Sheraton, Holiday Inn, Crowne Plaza, Radisson, Hyatt, Homewood Suites, and Hampton Inn.  Recent transactions include rebranding of the Four Seasons Hotel Buenos Aires, Argentina and Four Seasons Resort Carmelo, Uruguay; establishment of a joint venture for the development of a new 200-room Hilton Garden Inn in the San Diego, CA area; the sale of land for a 336-unit time share project in Orlando; and arranging the acquisition of a $325-million, 16-hotel U.S. portfolio by one of the largest private European hotel groups.

Intergroup has provided transaction and development services for almost 13,000 hotel and time-share units worth over one billion dollars.

Contact:
Tandy O. Lofland, President
Intergroup Companies
950 Echo Lane, Suite 352
Houston, TX  77024
(713) 973-2130;  (713) 973-2133 fax
tandy@intergroupcompanies.com


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