Baymont Inn & Suites – North Aurora (Chicago), Illinois
Baymont Inn & Suites was built in 2001 as a Holiday Inn Express but opened under the Baymont flag. The 3-story property enjoys strong visibility along Interstate-88. The hotel benefits from being adjacent to Aurora, IL, the second largest city in Illinois and 35 miles west of Chicago. Baymont Inn & Suites contains 71 guestrooms, an indoor swimming pool, exercise room and breakfast area.
Based on the poor market conditions, finding a buyer who knew the market and was up for the challenge of making the hotel profitable would be difficult. Further, none of the more upscale franchises were available for the property and financing was challenging to obtain.
Through an aggressive national sales and marketing process, prospective buyers who had an interest for acquiring hotels in the suburban Chicago area were targeted.
Hotel Source procured over twenty offers on the property in a short time span. The buyer group who eventually purchased the property was a regional group who saw the potential with hands-on management. The hotel sold at ten percent above the listing price.
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