Four Points Mt. Prospect recently opened at 2200 Elmhurst Road in Mt. Prospect, Illinois. The 50,000-square-foot, three-story hotel includes 93 rooms and features an on-site traditional American cuisine restaurant, fitness and business centers and an indoor pool and spa.
Schaumburg, Illinois-based Nexgen Hotels purchased the hotel for $5,150,000 and made renovations totaling $3,200,000 to convert the hotel into a Four Points by Sheraton. Renovations included new guestrooms and bathrooms, an addition of a restaurant and bar, a fitness center expansion, new lobby and exterior work.
Nexgen Hotels, a hotel development and management company, was the general contractor and developer. The company is working for the first time with Midas Hospitality, a premier hotel management group, which will manage the property. This is the first Four Points brand hotel for both Nexgen Hotels and Midas Hospitality.
“We decided to develop the Four Points brand because we really liked the direction Starwood Hotels was taking,” said Nexgen Hotels’ principal Chris Patel. “Starwood’s Preferred Guest (SPG) loyalty program seems to be the brand millennial travelers are selecting, and we wanted to be associated with this demographic.” Patel added that Starwood Hotels, which is now Marriott, “was great to work with, and we look forward to developing other products with them.”
“Nexgen Hotels has both a philosophy and standards of operation that complement our company’s vision,” said Rob Willard, Midas Hospitality president and principal. “We are excited to begin this partnership with their organization, as well as work with the Four Points brand for the very first time.”
Founded in 2006, Midas Hospitality has developed, opened and currently manages numerous properties including 30 hotels in 11 states. The company serves global brands including Hilton, IHG, Marriott, and Starwood. Nexgen Hotels, which was founded in 2008, currently owns and operates six hotels for various brands, as well as numerous restaurants including Bar Louie and Wahlburgers.
