Summary Box: Carlson gives Radisson makeover, announces 500-hotel expansion amid dismal market

Summary Box: Radisson expanding, will be more posh

MAKING A GAMBLE: Carlson Hotels Worldwide is expanding its 1,000-hotel portfolio by 50 percent, betting it can buy low and the market will turn around.

RADISSON REDONE: The company will spend up to $1.5 billion to make its underperforming Radisson brand more stylish, contemporary and luxurious.

A ROCKY ROAD: Carlson’s rebranding and expansion come as the hotel industry struggles with abysmal occupancy and revenue and more than 15 percent of properties are in foreclosure or delinquent on payments. That’s the highest rate ever for any type of commercial property.