Kansas City-based Marquee Hospitality and Endeavor Hotels of Oakland, Ill., have purchased four institutionally branded assets in Chicago and Minneapolis for an undisclosed amount from Summit Hotel Properties.
Hunter Hotel Advisors' SVP Spencer Davidson facilitated the transaction on behalf of the seller. The four-property portfolio has a total of 467 keys.
The Hilton Garden Inn Eden Prairie and the Holiday Inn Express & Suites Minneapolis Minnetonka are in southwest Minneapolis, close to numerous business sectors, including SAP, Origin Enterprises, Pfizer, and Fidelity Investments. The hotels are also within 15 miles of tourist attractions like Bryant Lake Regional Park, Braemar Golf Course, Valley Fair, Canterbury Park, Eden Prairie Mall, Paisley Park and the Saint Paul International Airport.
The Hyatt Place Chicago Lombard Oak Brook is 20 miles west of downtown Chicago and 16 miles from O’Hare International Airport. Several demand generators include Yorktown Shopping Center, Oakbrook Center Promenade, and Drury Lane Theater. The Hyatt Place Chicago Hoffman Estates is in the Chicago suburb of Hoffman Estates, near the Northwest Corporate Center and the Greenspoint Office Park. Both hotels benefit from the heavy traffic and economic impact of Chicago’s major professional sports teams.