Ethika Investments Allocates Capital for Acquisition of Renaissance O'Hare
Friday August 16th, 2013 - 11:06AM EA
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CHICAGO—Ethika Investments LLC has announced a capital allocation for the acquisition of the Renaissance O'Hare Hotel located here.
This property marks the sixth investment from Ethika’s Diversified Opportunity Real Estate Fund. The hotel features 15 floors, 362 guestrooms and 21,500 sq. ft. of meeting space and amenities including a fitness center, business center, pool, concierge and an airport shuttle.
Ethika's affiliate, Laurus Corporation, a real estate investment and development company specializing in hotel and resorts, office buildings and mixed-use properties, recently completed the acquisition of the hotel.
Tags: • Hospitality • Amenities • Acquisitions •
When you hear all the lodging industry projections for the months and years to come, much of the robust growth is forecast to be the result of the expected influx of travelers from China. In what could only be seen as good news for the industry, that expectation moved a little closer to reality when President Obama signed a visa waiver extension for Chinese travelers earlier this month.