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First Hospitality Group, Inc. Announces Joint Venture With Superhost Enterprise
7/11/2012
ROSEMONT, Ill.—Rosemont, Ill.-based First Hospitality Group, Inc. (FHG) announced today a joint venture with Fort Wayne, Ind.-based hotel owner and developer Superhost Enterprise, to purchase and renovate the Staybridge Suites Chicago-Oakbrook Terrace hotel.
As a result of this strategic partnership, the hotel will undergo renovations within the next month—including a complete redesign of the lobby, all 112- guestrooms, common areas, and the hotel’s outdoor space. First Hospitality Group, Inc. will manage the property.
“This partnership made strategic business sense for both companies and resulted in a smooth completion of this deal,” said Robert Habeeb, president and COO of First Hospitality Group, in an announcement. “As we cautiously measure the impact of the economic climate on the hospitality industry, First Hospitality Group, Inc. remains committed to reviewing partnerships that are profitable and promote our company’s growth. Our joint venture with Superhost for this property does just that and we look forward to other joint ventures with Superhost in the future.”
The all-suite hotel offers guests a 24-hour fitness center, seasonal outdoor spa, a business center, and complimentary Internet and breakfast. READER COMMENTS
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