Global hotel group Le Méridien Hotels & Resorts announced today the completion of the sale of Le Meridien Chicago to an affiliate of Lodging Capital Partners
Le Méridien’s management of the hotel ceased at the completion
The sale of the hotel is the first in a series of transactions over the coming weeks that will result in the successful recapitalisation of Le Méridien. Le Méridien Chicago has been part of the Le Méridien Group since June 2001. The hotel’s excellent location and facilities combined with Le Méridien’s European style and service have culminated in the success of the hotel.
The sale of the hotel is the first in a series of transactions over the coming weeks that will result in the successful recapitalisation of Le Méridien.
Le Méridien Chicago has been part of the Le Méridien Group since June 2001. The hotel’s excellent location and facilities combined with Le Méridien’s European style and service have culminated in the success of the hotel.
In recent months Le Méridien Chicago has consistently led its competitive set in terms of average room rate and RevPar.
According to Robert Riley, CEO of Le Méridien: “We are on the home stretch for the successful recapitalisation of Le Méridien, with successive steps to be taken over the coming weeks.
Until then we can assure our owners, colleagues, guests and partners that it is business as usual at Le Méridien.”
London-based Le Méridien is a global hotel group with a portfolio of more than 130 luxury and upscale hotels in 53 countries worldwide.
The majority of its properties are located in the world’s top cities and resorts throughout Europe, the Americas, Asia Pacific, Africa and the Middle East.
The strategic alliance with JAL-owned Nikko Hotels provides loyal guests with access to an additional 52 properties around the world.