ROBERT D. OLSON
President
R.D. Olson Development
Newport Beach
R.D. Olson Construction
Irvine
Born in Oakland
Age: 62
Lives in Newport Beach
(Balboa Island)
WHY: California’s dominant hotel developer several years running. Since 2008, R.D. Olson has completed 18 projects with nearly 2,700 rooms. Those projects have a value approaching $2 billion. Eight of those projects are in Orange County.
HOW: Founded R.D. Olson Development in 1998 after nearly 20 years at helm of contractor R.D. Olson Construction, which builds hotels, offices, restaurants, apartments, other product types, and of which Olson remains majority owner. Wanted to develop hotels for own portfolio; started by building two hotels in Disneyland Anaheim that were later sold to Intercontinental Hotels. Remains 100% owner of development business, whose activity has surged past seven years. Founded construction company at age 23 using $35,000 of own savings.
RECENT: Business Journal Person of the Year for 2018, after career year: Opening of Lido House Hotel, 130-room upscale boutique at former Newport Beach City Hall, first new hotel in city in decade. Modeled in part of Olson’s own home along water. Irvine Spectrum Marriott, first full-service area hotel in several years, opened a few months prior. Sixteen-story project among highest-rated Marriott hotels in country. Rooftop bar Hive & Honey city’s newest hot spot. Built 250-room Paséa Hotel & Spa in Huntington Beach, 3-year old project that’s part of Pacific City mixed-use development. Quietly sold stake in Surf City project last year in highly profitable deal. Part of development group overseeing rehab, redevelopment of Dana Point Harbor.
QUOTABLE: “When it comes to developing hotels in coastal California he has no rival,” said Joe Ueberroth, founder of Newport Beach-based Bellwether Financial Group and along with Burnham-Ward Properties a partner with Olson for the Dana Point project.
PERSONAL: Received MBA from University of Southern California, convinced school to admit him without undergrad degree. Member, Young Presidents’ Organization, served on board of directors, executive committee of American Red Cross Orange County chapter.
