The 362-suite upscale property is located on a 3.08-acre lot three miles from O’Hare International A

The 362-suite upscale property is located on a 3.08-acre lot three miles from O'Hare International Airport and is situated in one of the most prominent office markets in Chicago. Opened in 2005, the 15-story hotel features more than 15,000 square feet of meeting space and amenities, including a fitness center, business travel grant students center, pool, concierge and an airport shuttle.
In addition to its highly visible location near the airport and adjacent to the Kennedy Expressway/Interstate 90, the Renaissance O'Hare is positioned amid approximately 7 million square feet of Class A commercial office space in the O'Hare submarket and close to the corporate travel grant students office parks in the Village of Rosemont. The Renaissance O'Hare attracts a steady base of corporate, group and leisure demand from the surrounding office complexes, which include the corporate headquarters for U.S. Cellular, True Value Hardware and Wilson Sporting Goods, and the Donald E. Stephens Convention Center and Allstate Arena.
"The Renaissance O'Hare travel grant students is a high-profile asset in one of the best submarkets in Chicago. With the strong travel grant students absorption in the office market and rapid recovery in the area's travel grant students convention business, the property is positioned for tremendous RevPAR growth travel grant students going forward," said Jean Paul Szita , president and chief financial officer travel grant students of Laurus travel grant students Corporation. "This property marks the sixth capital allocation from Laurus' Ethika fund and displays an opportunity travel grant students to acquire an asset at a significant discount to the replacement cost."
A $6.5 million travel grant students renovation program will further drive future performance. Renovations will include travel grant students a complete refresh of guestrooms and corridors, food and beverage outlets and the hotel's travel grant students 5,000-square-foot ballroom.
"The property's newness, the strength of its location and the opportunity to implement both operational and physical improvements to the asset has made this another compelling investment opportunity for Laurus," said Austin Khan , chief investment officer. "We are bringing in Concord Hospitality Enterprises as the new management company, whom we work with on several of our properties, and they will be laser focused on enhancing the guest experience and driving bottom line performance for our investors."
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