The LAX Radisson is situated in the heart of the Los AngelesInternational Airport submarket at the intersection of West Centuryand Sepulveda boulevards. It features approximately 42,000 sf ofmeeting space and is home to one of the largest ballrooms in theLAX submarket, measuring close to 14,000 sf.

The property includes four restaurants and bars, an outdoor pooland retail tenants. Under the new ownership, Chicago-basedPortfolio Hotels & Resorts will assume management companyresponsibilities following the closing, according to JeremieBabinet, a vice president with Jones Lang LaSalle Hotels.

Strauss points out that the LAX hotel market has performedextremely well in recent years with occupancies for the majorhotels topping 80% and average rates up close to 10% year-to-datethrough the third quarter. The LAX Radisson deal follows severalothers in the airport area submarket this year, including the salethis past summer of the 405-room Holiday Inn Los AngelesInternational Airport to an affiliate of New York City-based McSamHotel Group LLC.