The recovery of the airport hotel market has turned out well for a California investor that's cashing out of the Westin O'Hare for a big gain after owning it for only about three years.
Clearview Hotel Capital is selling the 525-room hotel in Rosemont for about $82 million to New York-based Clarion Partners, according to people familiar with the transaction. The sale is expected to close by the end of the month.
The recession and financial crisis crushed the hotel at 6100 N. River Road, whose prior owner, Ashford Hospitality Trust of Dallas, relinquished the property to a loan...