News for the Hospitality Executive
Davidson Hotel Company to Manage the 403-room
Radisson Hotel Bloomington by Mall of America
BLOOMINGTON, Minn., May 1, 2010 -- Davidson Hotel Company today announced that it has taken over management of the 403-room Radisson Hotel Bloomington by Mall of America, which includes the Water Park of America, the largest indoor water park in the country. The hotel and water park were recently acquired by an affiliate of Wheelock Street Capital, a real estate private equity firm.
"While this marks our entrance into water park management, the overall property fits perfectly within our wheelhouse of operating complex, full-service properties that appeal to business and leisure travelers in markets with high barriers to entry. The property has tremendous upside, and our core skills will help our owner maximize the property's true value," said John Belden, Davidson's president and chief executive officer. "We are every bit as selective about our partners and property owners as we are about the assets we manage. We are thrilled to welcome Wheelock Street Capital into our family and into one of the most sophisticated groups of property owners in the industry."
Located at 1700 East American Boulevard across the street from the world-famous Mall of America, the eight-story hotel is just 10 minutes from Minneapolis/St. Paul International Airport. Guests may choose from seven different configurations of hotel rooms and suites (including bunk beds for the kids), all of which feature high-speed Internet access, in-room coffee makers, work desks and chairs, microwaves and refrigerators. Hotel amenities include an on-site fitness center, 1,863 square feet of meeting space, corporate lounge, three restaurants and complimentary shuttle service to the Mall of America, the Minneapolis-St. Paul International Airport and local businesses within a five-mile radius. Additionally, guests may purchase special access to the adjoining 77,000 square foot Water Park of America.
The Water Park of America features a 5,800 square foot game arcade, as well as activity pools with hoops, nets and balancing logs. Among the water park's most popular features is America's longest indoor family raft ride, more than 10 stories tall and over a mile long. It also offers the Lake Superior wave pool and Minnesota's only Flow Rider Surf Simulator, as well as several body and tube slides.
"The combination of world class hospitality and a top-notch water park attraction make for an ideal, year-round family destination," said Patrick F. Lupsha, Davidson's chief operating officer. "Together with its strong corporate mid-week appeal, the hotel is well positioned to become a market leader following the implementation of our proprietary management and marketing programs."
About Wheelock Street Capital
Wheelock Street Capital, L.L.C. is a real estate private equity firm founded in 2008 by Merrick R. Kleeman and Jonathan H. Paul. Wheelock Street pursues a highly focused, fundamentally driven investment strategy. Backed by established institutional capital, the company is currently pursuing acquisitions and recapitalizations of real estate and operating platforms in the hospitality, multifamily, condominium and residential land/homebuilding sectors.
About Davidson Hotel Company
Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel owner and third-party management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. The company currently owns and/or manages 38 upscale, independent and branded hotels with more than 10,700 rooms across the United States, including such affiliations as Hyatt, Westin, Marriott, Hilton, Sheraton, Embassy Suites, Doubletree, Renaissance, Radisson, Crowne Plaza, Hilton Garden Inn and Holiday Inn. Additional information on Davidson may be found at the company's Web site, www.davidsonhotels.com.
Davidson Hotel Company
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