In May of 1998, affiliates of Amerimar Enterprises, Inc. and Angelo, Gordon & Co. purchased the 765-room Radisson Hotel in downtown Atlanta. Prior ownership was unable to take advantage of its outstanding downtown location because its physical condition had forced the property to market to only the price sensitive end of Atlanta's convention market. At the time of Amerimar's acquisition, the hotel was under-performing the market in virtually every category and was in need of a complete renovation and repositioning. Although the prior owners had partially renovated the property, Amerimar committed an additional $30 million to renovate and re-flag the hotel to The Sheraton Atlanta.

The renovations were substantially completed by August of 1999 and the grand reopening took place 9/9/99. The main entrance, which was hidden deep within the hotel garage, has been transformed into the spacious porte-cochere pictured above. Two new restaurants, Fandangle’s and Collage, have elevated the guests’ dining experiences. Meeting and exhibit space has been added to bring the total conference space to 90,000 SF. In addition to improving the physical quality of the facility, Amerimar's hotel group has worked to significantly enhance service levels and aggressively market the hotel. After all renovation work, which now totals in excess of $50 million, the owner’s cost basis remains significantly below replacement cost.