Skip Ribbon Commands
Skip to main content

News release

CHICAGO, IL

Institutional-Quality Airport Hotel Trades Hands in Chicago’s O’Hare Submarket

JLL closes sale of The Holiday Inn & Suites Rosemont


CHICAGO, March 25, 2015 – Strong growth in operating fundamentals among airport hotels and a prime location near one of the world’s busiest airports 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.
 
JLL’s Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s more than 320 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling more than US $48 billion, while also completing approximately 4,500 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.
 
For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.
 
About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.7 billion and gross revenue of $5.4 billion, JLL has more than 230 corporate offices, operates in 80 countries and has a global workforce of approximately 58,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.4 billion square feet, or 316 million square meters, and completed $118 billion in sales, acquisitions and finance transactions in 2014. Its investment management business, LaSalle Investment Management, has $53.6 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.
 
About Rockbridge
Rockbridge is a private equity firm that invests in hotels. Over the past 20+ years, it has made more than 330 hotel investments in 44 states in transactions worth more than $5 billion.  Through its deep in-house experience and strong foundation of industry relationships, Rockbridge has delivered a track record of high absolute returns across multiple cycles and is a leading investor in hospitality.