RockBridge Expands Le Meridien Flag in Chicago
Wednesday October 10th, 2012 - 12:09AM
These are shortcuts to your favorite social networking and bookmark sites. Add this story to your Facebook page, del.icio.us, DiggIt, and many others!
OAK BROOK, IL—RockBridge Partners, a division of RockBridge, has acquired the former Renaissance Oak Bridge hotel here. The 172-room property will undergo a $21 million renovation before being reflagged as the Le Meridien Chicago at Oakbrook Center.
Planned upgrades include a redeveloped lobby, a new restaurant and lounge, as well as a relocated and expanded fitness center. Improvements will also be made to guestrooms—including renovated bathrooms, high-definition TVs, bedding upgrades and a comprehensive soft and case goods package— as well as hotel corridors. Renovation of the property, which will be managed by Wischermann Partners, Inc, will begin this fall and is scheduled for completion fall 2013.
Tags: Hospitality Construction/Renovation Ownership
The most recent NYU Conference, earlier this month proved, once and for all, that the lodging industry has finally turned the corner and happy days are, indeed, here again. While the economists and pundits all provided plenty of anecdotal evidence to bear that out in terms of supply and demand ratios, RevPAR projections, asset values and all the other metrics, that’s not what has me convinced.