Hospitality N Illinois
CBRE arranges $33M acquisition loan for Hyatt Regency Deerfield

CBRE arranges $33M acquisition loan for Hyatt Regency Deerfield

CBRE Capital Markets has arranged a $32.9 million loan on behalf of Phoenix Development Partners for the acquisition and renovation of the 301-room Hyatt Regency Deerfield. The property, situated at the convergence of I-94 and I-294, is extremely well-located to serve north suburban Chicago, home to a high concentration of major corporations, including eight Fortune 500 companies.

Hospitality N Illinois
Chicago area hotel debuts app for the visually impaired

Chicago area hotel debuts app for the visually impaired

Chicago-based real estate investor and operator Waterton has teamed up with Boni Global to implement the first U.S. commercial application of Loud Steps, a Wi-Fi-based indoor navigation iPhone mapping tool for the visually impaired. The mobile app is making its debut at the DoubleTree by Hilton Hotel Chicago – North Shore Conference Center in Skokie, Illinois, a Waterton-owned property.

Hospitality N Illinois
Hotel sector capitalizing on healthy demand

Hotel sector capitalizing on healthy demand

The hotel sector is seeing healthy demand via three major sources—corporate transient travel, group and conventions business and leisure travel. This demand is leading to fuller hotels, allowing operators to increase room rates, according to JLL’s Hotels Investment Outlook for the fourth quarter of 2017. This acceleration of operating fundamentals is making investor confidence in the sector more positive.