Perfectly matched buyer and property

The historic Stratford In was originally built in 1926 in the heart of downtown Sycamore, Illinois. Located 65 miles west of Chicago, and within one hour of three other largest cities in Illinois, the boutique hotel also benefits from tis close proximity to Northern Illinois University. The Stratford Inn was completely redeveloped in the late 1980's but was then allowed to decline twenty years later before it was foreclosed by its lender.

Challenge
The Stratford Inn contains 39 rooms, a restaurant, lounge and banquet facility. Based on the limited number of guest-rooms and full-service nature of the operation, few buyers surfaced who had the skills to run such a hotel.

Hotel/Sales/Marketing Process
Through an aggressive sales and marketing process, prospective buyers were identified who owned independent hotels, historic properties as well as had a specialty of operating full-service hotels. Alternative use buyers were also targeted.

Results
The buyer who eventually closed on the purchase of the property had a true passion for the industry. Although this group had no hotel ownership experience, they assembled a team of professionals to oversee a repositioning strategy of the Stratford Inn. The new ownership group spent considerable time listening to the business and social communities to determine what they wanted in a hotel. The hotel will again be operated as a full-service operation serving the needs of the community.

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