New Radisson Hotel Opens in the Baltimore Area
- Mar 11, 2015
Radisson is expanding in the Baltimore area. The hospitality brand recently opened a new hotel in Timonium.
The Radisson Hotel North Baltimore is located at 2004 Greenspring Drive, just off I-83 and the Baltimore Beltway. It has 249 guest rooms and suites. The hotel also features a business center, an outdoor pool, fitness center, an on-site Northern Lights restaurant, and 20,000 square feet of function space, including two ballrooms, 17 conference and breakout rooms and a 10,000-square-foot Atrium Exposition and Conference Space.
Radisson announced the addition of the Radisson Hotel North Baltimore to its North American portfolio at the start of the year. The property was formerly known as the North Baltimore Plaza Hotel. It went into foreclosure in 2014, when the former owner, Timonium Management Inc., was unable to pay a $13.3 million loan, and was auctioned off last November. Stephen Nalley is the hotel’s current owner.
According to Marcus & Millichap’s latest hospitality market report, hotels in the Mid-Atlantic region can expect higher room demand and revenues this year. The real estate investment services firm said that the improving economy will support additional business travel in 2015, across the entire region. The rate of room nights will grow faster than room stock, generating a 0.9 percent rise in regional occupancy, to 63.6 percent. Average daily rates will also increase by 3.6 percent, to $120.78, and so will revenue per available room. It will climb 5.1 percent, to $76.84.