Hospitality investment company Rockbridge has acquired Hyatt House Chicago West Loop / Fulton Market, a 200-room hotel near downtown Chicago’s West Loop and Fulton Market in the US.
The sale price of the hotel was not disclosed.
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Sterling Bay and its investment partner Wheelock Street Capital announced the sale, reported CoStar.
Jones Lang LaSalle Hotels & Hospitality Group advised sellers on the deal.
This 14-storey Hyatt House hotel is claimed to be the only select service and major brand hotel in the vicinity.
The property offers a range of amenities, including 1,498ft² of meeting space that can accommodate up to 100 guests, a business centre, a rooftop activity centre, an indoor pool, and a fitness centre.
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By GlobalDataIt also has a marketplace for grab-and-go snacks and groceries, as well as a bar for light bites and cocktails.
The hotel’s location next to Chicago’s Restaurant Row on Randolph Street allows for access to a variety of eateries, wine and cocktail bars, and music venues.
Rockbridge Managing Director Matt Welch said: “This Hyatt House hotel is ideally located in Chicago’s Fulton Market – one of the best submarkets in the city.
“The hotel was built just prior to the Covid-19 pandemic and has strong tailwinds to continue to grow. It will also benefit by leveraging the strengthening of Fulton Market and the Hyatt House brand.”
Recently, Hyatt Hotels completed the sale of Hyatt Regency Orlando and an adjacent 45-acre land parcel in Florida, US, for $1.07bn.
The property was offloaded to affiliates of RIDA Development Corporation and an Ares Management Real Estate fund, who look to renovate the hotel’s guestrooms and other amenities, as well as build a new Grand Hyatt hotel on the adjacent land.
