A popular Embassy Suites Hotel in Schaumburg gets a new owner

The Embassy Suites Hotel in suburban Schaumburg has been sold. The Burrus Investment Group in Metairie, LA., said it has sold the 209-suite hotel property to Hotel Capital LLC, an Indianapolis, Ind.-based real estate investment firm.

The purchase price was not disclosed.

The Tampa-Fla.-based Plasencia Group, hotel investment and consulting firm, orchestrated the sale on behalf of the Burrus Group. Plasencia Vice President Joe Corcoran said of the sale: “Both the seller and buyer benefited from this transaction. Our client was able to further their corporate strategy of exiting non-strategic assets, and the purchaser was able to acquire the only full-service all-suites hotel in the Schaumburg market.”

Corcoran added that the Schaumburg Embassy Suites “has shown consisted profitability even during times of economic uncertainty.”

New owner Hotel Capital will rein the Embassy Suites Schaumburg’s current management company, Expotel Hospitality Services. Noted Expotel President and COO Kerry Ranson: “Expotel’s management kept this asset performing at top efficiency and will be the driving force for further growth value.”

The Embassy Suites has benefited from its choice suburban location 25 miles northwest of downtown Chicago and 10 miles for O’Hare International Airport. The hotel is near several Fortune 500 company headquarters and Illinois’ largest indoor shopping center Woodfield Mall, which have helped consistently keep the hotel booked.

Lewis Lazare
Chicago Business Journal