Strong growth in operating fundamentals among airport hotels and a prime location near the world’s busiest airport drove the sale of The Holiday Inn & Suites Rosemont, a Rockbridge Portfolio Property. On behalf of Rockbridge, JLL‘s Hotels & Hospitality Group today announced the sale of the hotel, located in the Chicago suburb of Rosemont. Hospitality Properties Trust, a public hotel REIT, purchased the asset. Intercontinental Hotels Group (“IHG”) will manage the Property going forward for the buyer.
Managing Director Adam McGaughy, Senior Vice President John Nugent and Vice President Truitt Alday led the JLL team on the transaction.
“The Holiday Inn & Suites Rosemont is a well-positioned asset that boasts strong cash flow, which helped JLL attract a strong institutional base of buyer groups to our marketing process,” said McGaughy.
The 300-key hotel includes approximately 3,100 square feet of flexible meeting space, 406 parking spaces and a fitness center. The asset also features the leased 8,000 square-foot Harry Caray’s Italian Steakhouse and a park-and-fly operation.
