USC has purchased the Radisson Hotel, Midtown Los Angeles, from Pacific West Company for approximately $26 million. The transaction closed on Tuesday, Aug. 1, 2000.
The 215,000 square foot hotel is located on 2.66 acres on Figueroa Street between the USC campus and the 110 (Harbor) Freeway. The purchase includes an adjacent commercial property, currently used for offices, and an adjacent building that contains two restaurants, a ballroom and meeting rooms, which will continue to be operated for those purposes.
Phil Chiaramonte, associate vice president of USC Auxiliary Services, said USC would continue to operate the property as a full-service hotel. USC has reached an agreement with the current general manager, Albert A. Salah, to continue management of the facility. It is expected that all current employees will be retained.
“When the property became available USC felt the best way to assure the campus would continue to be served by a first-class hotel operation was to acquire the property,” Chiaramonte said. In addition to serving travelers, the Midtown Radisson regularly houses visiting athletic teams, parents of students and many who attend academic meetings held on the USC campus.
This fall, several floors of the hotel will be used temporarily to house a number of USC freshmen, a practice that has occurred twice in recent years. USC experienced an unexpectedly high number of acceptances from freshman applicants this year.
Built in 1974, the 240-room hotel was initially managed by Hilton Hotels, later becoming a Crowne Plaza and, in recent years, a Radisson.
Chiaramonte praised general manager Salah and the previous owners for continuing to invest in the property over the years. “The Midtown Radisson has been maintained as a first class property. A recent upgrade of rooms and exterior entry convinced USC Trustees of the long-term value of the hotel,” he said.
A name for the USC-owned hotel has not been determined.