ST. CHARLES, Ill.
Banyan Investment Group in partnership with Compass Real Estate has purchased the Hilton Garden Inn in St. Charles, Ill., which is located about 40 miles west of Chicago; the hotel will undergo a $2 million renovation of guest rooms and public areas that is expected to be complete by March of 2017.
Opened in 2000, the three-story Hilton Garden Inn includes 120 guest rooms; 4,400 square feet of flexible meeting space; an indoor pool; a fitness center; and a bistro-style restaurant. Attached to the hotel is an independently owned 18,000-square-foot conference and training center.
Demand generators for the Hilton Garden Inn include numerous corporate offices and industrial locations; the 250-acre Pheasant Run Resort; The Quad St. Charles, an upscale shopping mall with more than 120 stores; the Kane County Fairgrounds; and the DuPage County Airport.
This is Banyan's first acquisition in 2016. Last year, the company added five hotels and its portfolio now includes 22 properties in nine states under the direction of second-generation Asian-American hoteliers.
