Welcome to the Embassy Suites Chicago, an urban retreat steps from Magnificent Mile shopping. Sunlight streams into our dramatic 11 story atrium, filled with blooming foliage and a rushing waterfall - the first sign that this is no ordinary downtown hotel. Enjoy incomparable value in an unbeatable location moments from galleries, dining, entertainment and the Loop Financial District. When you stay at the AAA Three Diamond, TAG Approved® Embassy Suites, you get a "Newly Renovated", spacious two-room suite with a sleeper sofa to boot. Take it easy without taking out your wallet with our free daily cooked-to-order breakfast, and our nightly Manager's Reception with complimentary beverages and light appetizers. At Embassy Suites, there are always more reasons to stay.
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Davidson Hotel Company to Manage Embassy Suites Chicago-Downtown
First Contract with Major Hotel REIT Sunstone Hotel Investors, Inc.
CHICAGO, June 3 2010 /PRNewswire/ -
- Davidson Hotel Company, one of the nation's largest independent hotel management companies, today announced that it has been selected to manage the 367-suite Embassy Suites Chicago-Downtown in Illinois. It is the first hotel Davidson will manage on behalf of Sunstone Hotel Investors, Inc., a lodging real estate investment trust (REIT).
The hotel is scheduled to undergo a complete renovation of all 367 suites, as well as all bathrooms, corridors, lobby and public space. Renovation is expected to begin during the fourth quarter of 2010.
"The third largest city in the U.S., Chicago is a major travel destination, as well as a transportation and telecommunications hub and global financial center, with numerous business and leisure demand generators, from the Magnificent Mile to the Loop," said John Belden, Davidson president and CEO. "With two other Chicagoland properties, we have a deep understanding of this market, and the Embassy Suites will benefit greatly from that local experience."
Located in the heart of downtown Chicago at 600 North State Street, the hotel is within walking distance of world famous shopping, dining and cultural activities ranging from the Shedd Aquarium to Soldier Field. The hotel also is a short distance from numerous Fortune 500 companies in the LaSalle Street Financial District, and just 11 miles from Midway Airport and 14 miles from O'Hare International Airport. Hotel amenities include an onsite restaurant and wine bar, Osteria Via Stato & Enoteca; 6,000 square feet of meeting space, accommodating groups ranging from 10 to 300; high speed and wireless Internet access throughout the hotel; fully equipped fitness center; 24-hour business center; indoor, heated swimming pool; and Embassy's hallmark complimentary, cooked-to-order breakfast and evening manager's reception.
"We look forward to collaborating with Davidson Hotel Company and benefiting from their market and industry knowledge to maximize the hotel's cash flow," said Arthur Buser, Sunstone president and CEO.
Marc Hoffman, Sunstone executive vice president and COO, noted that, "Davidson has an exceptional reputation as an operator who understands the value creation process. This will be invaluable in the post-renovation repositioning of the property and is one of the primary reasons we selected Davidson."
Guest suites feature separate living room with a sofa bed and dining/work table, remote-control console television, and two phones with high-speed Internet access and private voicemail. The bedroom is highlighted by Bierdermeier furnishings, armoires, remote-control television, and AM/FM radio. Each suite also is furnished with a microwave, coffeemaker, and refrigerator, as well as on-demand movies, iron and ironing board, and hairdryer. Guests may bring their own video game systems with connections to hook up to the hotel's 32" flat panel televisions.
"Major destination market hotels require a very specific set of lodging management skills," noted Steve Margol, Davidson's chief investment officer. "The Embassy Suites Downtown-Chicago will benefit from the implementation of our proprietary management, sales and revenue management systems that have enabled us to historically create significant asset value on behalf of our owners with hotels in major markets. Following completion of the renovation, we believe we will be successful in quickly re-establishing the hotel's standing as the city's upscale, all-suite market leader."
"Sunstone Hotel Investors is a premier ownership group that aligns well with our portfolio in terms of quality, branding philosophies and value creation strategies," Belden added. "Davidson has one of the purest full-service, upper-upscale portfolios in the industry, and the Embassy Suites Downtown-Chicago will fit perfectly. We look forward to a long and mutually beneficial collaboration with Sunstone."
About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. is a lodging real estate investment trust (REIT) that owns 29 hotels comprised of 10,966 rooms. Sunstone's hotels are primarily in the upper upscale segment and are generally operated under nationally recognized brands, such as Marriott, Fairmont, Hilton, Hyatt and Starwood. For further information, please visit Sunstone's website at www.sunstonehotels.com.
About Davidson Hotel Company
Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, full-service hotel owner and third-party management company that provides management, development/renovation, acquisition, consulting and accounting expertise for the hospitality industry. The company currently owns and/or manages 39 upscale, independent and branded hotels with more than 11,000 rooms across the United States, including such affiliations as Westin, Marriott, Hyatt, Hilton, Sheraton, Embassy Suites, Doubletree, Renaissance, Radisson, Crowne Plaza, Hilton Garden Inn and Holiday Inn. Additional information on Davidson may be found at the company's Web site, www.davidsonhotels.com.
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Contact: Cyndi Norwood Davidson Hotel Company (901) 821-4155 |
Jerry Daly, Chris Daly (media) Daly Gray Public Relations (703) 435-6293 |
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SOURCE Davidson Hotel Company
RELATED LINKS
http://www.davidsonhotels.com
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For Immediate Release
Contact:
Cyndi Norwood Jerry Daly, Chris Daly (media)
Davidson Hotel Company Daly Gray Public Relations
(901) 821-4155 (703) 435-6293
cnorwood@davidsonhotels.com jerry@dalygray.com
Embassy Suites Chicago-Downtown Completes $9.0 Million Renovation
CHICAGO, April __, 2011—Davidson Hotel Company, one of the nation’s largest
independent hotel management companies, today announced that the 367-suite Embassy Suites
Chicago-Downtown in Illinois has completed a $12.3 million renovation. Davidson has
managed the hotel since June 1, 2010, on behalf of owners, Sunstone Hotel Investors, Inc.
Sunstone oversaw the project; Design Force of Denver, Colo., was the design firm for the
renovation.
“The renovation has enhanced the overall guest experience of this exceptionally located
hotel,” said Patrick Lupsha, Davidson’s chief operating officer. “All guest suites were
completely renovated, including new case goods, state-of-the-art workstations, carpeting, wall
coverings, two flatscreen televisions per suite and bathrooms. We are confident that the
significant capital investment, coupled with our expertise in the Chicago market, will establish
the Embassy Suites Chicago-Downtown as the leading upscale, all-suite destination in the
market.”
“Chicago is a town with an incredible architectural heritage, which made this project all
the more interesting and challenging,” said Roxanne Fancy, president, Design Force. “In
addition to guest suite interiors, we installed new carpeting, wall coverings, contrasting paint on
doors and light sconces in the guest corridors. All aspects of the renovation complement the
bold and self-assured style for which Chicago is well known.”
Located at 600 North State Street, in the heart of downtown Chicago, the upscale, allsuite
hotel is convenient to Michigan Avenue’s Magnificent Mile, Loyola University, Navy Pier,
American Girl Place, and Lincoln Park Zoo. The 11-story atrium hotel also is near Boeing
Headquarters, City Hall and Chicago Board of Trade.
The Embassy Suites Chicago-Downtown features an indoor, heated swimming pool; two
onsite dining options—Osteria Via Stato and Pizzeria Via Stato; 6,000 square feet of flexible
meeting space that can accommodate groups ranging from 10 to 300; 24-hour business center;
fully equipped fitness center; and Embassy’s hallmark complimentary, cooked-to-order breakfast
and evening manager’s reception. Guest suites offer one or two private bedrooms with
contemporary furnishings, armoires, spacious living rooms, high speed wireless Internet access,
32” flat panel bedroom television, 40” flat panel suite television, and a state-of-the-art
workstation.
About Design Force
Design Force offers a suite of services which guarantee a total project cost with reliability
and integrity. The company’s unique streamlined process allows for prompt reaction to
product/logistical issues when compared to the traditional purchasing model. Design Force’s
expansive portfolio encompasses new developments, renovations and adaptive re-use properties
varying in scale and type. For additional information, visit Design Force’s Web site at
http://www.designforcecorp.com.
About Davidson
Headquartered in Memphis, Tenn., Davidson Hotel Company is an award-winning, fullservice
hotel management company that provides management, development/renovation,
acquisition, consulting and accounting expertise for the hospitality industry. The company’s
portfolio encompasses 48 upscale, full-service independent and branded hotels with more than
13,500 rooms across the United States, including such affiliations as Embassy Suites, Hilton,
Doubletree, Hilton Garden Inn, Westin, Sheraton, Hyatt, Marriott, Renaissance, Courtyard by
Marriott, Radisson and Crowne Plaza. Additional information on Davidson may be found at the
company’s Web site, www.davidsonhotels.com.
About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. is a lodging real estate investment trust (REIT) that owns
33 hotels comprised of 13,457 rooms. Sunstone’s hotels are primarily in the upper upscale
segment and are generally operated under nationally recognized brands, such as Marriott,
Fairmont, Hilton, Hyatt and Starwood. For further information, visit Sunstone’s Web site at
www.sunstonehotels.com.
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Sunstone Hotel Investors
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Sunstone Hotel Investors
Sunstone Hotel Investors, Inc. operates as a real estate investment trust. The firm engages in the acquisition, ownership, asset management, renovation, and sale of luxury, upper upscale, and upscale full-service hotels in the United States. Its portfolio also includes mid-scale hotels. Sunstone Hotel Investors was founded in 1995 and is based in Aliso Viejo, California.
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About Sunstone Hotel Investors, Inc.
Sunstone Hotel Investors, Inc. (NYSE:SHO) is a lodging real estate investment trust (REIT) that, as of the date hereof, has interests in 30 hotels comprised of 14,304 rooms primarily in the upper-upscale segment operated under nationally recognized brands such as Marriott, Hyatt, Hilton, Starwood and Fairmont.
The Sunstone team is focused on achieving industry-leading stockholder returns by improving our portfolio quality and scale while gradually deleveraging our balance sheet. Sunstone’s strategy is predicated on:
Proactive Portfolio Management: Improving our overall portfolio quality and growth potential through portfolio-wide initiatives such as market complexing and the sale of certain non-strategic assets;
Intensive Asset Management: Positioning our portfolio for growth as a result of recent and ongoing renovations and asset management initiatives, including streamlining of F&B operations and staffing models and energy retro-commissioning;
Disciplined External Growth: Pursuing high-quality acquisitions using our shares as currency when such acquisitions can be executed at attractive relative valuations;
Measured Balance Sheet Improvement: Reducing our corporate leverage and increasing our debt-service coverage through improving operations, selling highly-levered assets and by acquiring high-quality, unencumbered hotels