ALBUQUERQUE, NEW MEXICO The 314-key Radisson Hotel & Water Park Albuquerque has been put on the market, and the property has notified employees that layoffs may be forthcoming.
Owner River Hospitality Management, Los Angeles, is having difficulty servicing its debt in the face of declining revenue, Albuquerque Journal reports. The property, which opened in 1971 under the Four Seasons flag and converted to Radisson in 2007 and added a waterpark in 2010. River Hospitality has spent nearly US$40 million since 2007 to upgrade the property.
Utah-based Sorenson Group Holdings currently holds the primary debt on the property.