Chicago Hotel Indigo changes hands

George Sell By George Sell
19 June 2014 | Updated 19 June 2014

US: Florida Capital Real Estate Group has sold the Hotel Indigo property in Vernon Hills, Chicago, to an unnamed private equity group.

US: Florida Capital Real Estate Group has sold the Hotel Indigo property in Vernon Hills, Chicago, to an unnamed private equity group.

Hunter Hotel Advisors advised the vendor on the $10.3 million transaction.

The vendor originally bought the 1997 property as an Amerisuites hotel and later converted it to the Hotel Indigo brand. The new owners will retain the IHG lifestyle flag.

Teague Hunter, president of Hunter Hotel Advisors, said: "This hotel received significant interest from the first day it hit the market. Buyers considered multiple re-branding options for the 127 all-suite hotel, however, the eventual purchaser intends to keep it under the Hotel Indigo brand. The performance of the hotel has gained significant momentum over the past twelve months, so the cost of re-branding did not make financial sense."

www.hotelindigo.com

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