The RADCO Companies (RADCO), one of the nation’s leading opportunistic real estate developers, has completed a comprehensive renovation of the Courtyard by Marriott St. Petersburg Downtown hotel in St. Petersburg, FL. RADCO acquired the asset in 2022, adding this 128-room asset to its growing hospitality portfolio. RADCO has selected TPG Hotels & Resorts to manage the property.
The capital improvements at the Courtyard by Marriott St. Petersburg Downtown usher in a new era for the property, seamlessly integrating state-of-the-art amenities to guestrooms and public areas while preserving the hotel’s distinctive character.
“Our renovations at the Courtyard by Marriott St. Petersburg Downtown are aimed at elevating the guest experience while maintaining the location’s original charm,” said Norman Radow, CEO of The RADCO Companies. “The St. Petersburg hospitality sector is booming, and we are excited to introduce guests to the enhanced elegance and comfort of this distinguished hotel.”
The upgraded guestrooms now feature new furniture, bedding and paint, creating an ambiance of refined comfort. This sense of modern elegance is echoed in the redesigned bathrooms, now featuring sleek walk-in showers.
The transformation encompasses the hotel’s communal areas as well, including a modernization of the hotel’s historic lobby. RADCO is also adding a contemporary update to the bistro dining space as well as a reimagining of the meeting areas, including adding innovative technology.
Located at 300 4th St. North, the hotel was originally an independent boutique hotel before the property was converted to a Courtyard by Marriott in 2006. It was last renovated in 2015.
“RADCO did an exceptional job executing this transformational renovation,” said Ben Perelmuter, President and COO of TPG Hotels and Resorts. “When you have a terrific product in a hot market, and it’s supported with the power of a strong brand and TPG’s fully integrated management platform – you’ve got a recipe for success.”
Centrally positioned in the heart of downtown St. Petersburg, the Courtyard by Marriott St. Petersburg Downtown is proximate to both the St. Petersburg-Clearwater International Airport and Tampa International Airport. It is also close to the city’s most celebrated attractions, such as the Palladium Theater and the Museum of Fine Arts, making the downtown business district easily accessible for guests.
RADCO has a three-decade history of acquiring and investing in opportunistic real estate across all asset classes. The firm’s strategy targets underperforming assets that offer immediate mark-to-market opportunities, as well as projects requiring capital infusion to add value. RADCO’s first venture into the hospitality sector was in 1994 with the redevelopment of a distressed Atlanta hotel, office and condominium tower that later became the Four Seasons Hotel.
The RADCO Companies
The RADCO Companies was founded in 1994 with the mission of “Building Better Living.” Headquartered in Atlanta, RADCO has proven success in opportunistic real estate investments across all asset classes. Over the last decade, RADCO largely focused on multifamily redevelopment but recently broadened its investment strategy to include new development, hospitality, and industrial projects, while also expanding its multifamily property management platform. The real estate company, which focuses on the Southeast and Central U.S., has invested in about 30,750 multifamily units in fifteen markets, acquired eleven hotels in the Southeast and one out west, and has also completed more than 100 deals totaling $3.3 billion over the past decade. For more information, please visit https://www.radco.us
About TPG Hotels & Resorts
TPG Hotels & Resorts is a premier hotel operator with four decades of experience managing hospitality assets across all segments. TPG is a vertically integrated organization actively engaged in 3rd-party hotel management, development, acquisitions, marina operations and asset repositioning throughout the United States. The firm’s historical resume is approaching 600 branded, independent, boutique hotels and marinas comprising more than 65,000 guestrooms in 42 states. For more information, please visit www.tpghotelsandresorts.com.
