Tampa, Fla. (July 1, 2015) – The Plasencia Group is pleased to announce the sale of the Embassy Suites Chicago – Schaumburg/Woodfield hotel, located in Schaumburg, Illinois. The firm represented Burrus Investment Group, the owner of the 209-suite hotel. Hotel Capital, LLC, an Indiana-based real estate investment firm, acquired the property.
“Both the seller and buyer benefited from this outstanding transaction. Our client was able to further their corporate strategy of exiting non-strategic assets, and the purchaser was able to acquire the only full-service all-suites hotel in the Schaumburg market. The hotel has shown consistent profitability even during times of economic uncertainty,” commented Joe Corcoran, The Plasencia Group’s Vice President who led the disposition efforts. The Plasencia Group has engaged in projects in twelve states in the first half of 2015 and has served the hotel investment market across North America since 1993.
Hotel Capital will retain the management company, Expotel Hospitality Services. “Expotel’s management kept this asset performing at top efficiency and will be the driving force for its repositioning of further value growth,” commented Expotel’s President and Chief Operating Officer, Kerry Ranson.
The Embassy Suites benefits from its location 25 miles northwest of downtown Chicago and just 10 miles from O’Hare airport, off Meacham Road, a major north/south surface street in the Schaumburg area. The hotel is located near several Fortune 500 companies’ headquarters and a large shopping center, the Woodfield Mall, which consistently generate demand for lodging.