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PD Hotel Associates Acquires Rosemont Suites at O'Hare

CHICAGO-Seattle-based Dow Hotel Co., a partner in the joint venture, says it is aggressively "seeking to acquire and manage other mid- to large-size, full-service hotels, especially those that have extensive food and beverage capabilities and others.

By Janet Parker | Updated on December 18, 2000

CHICAGO-Locally-based Dow Hotel Co. is joint venturing with New Jersey-based Prudential Real Estate Investors to purchase the Rosemont Suites at O’Hare Airport in Chicago. The 296-room property was acquired through their joint venture, PD Hotel Associates, for an undisclosed sum. The hotel’s seller also has asked to remain anonymous. A source at Dow says the seller used Colorado-based Secured Capital Corp. to complete the transaction.

The Rosemont property (5500 N. River Rd., Chicago) was added to Dow’s portfolio “because of its great location and that fact that, hands down, it is the nicest in the area.” It is the only all-suite luxury hotel in such close proximity to the O’Hare International Airport. Dow believes it will be able to “do more with the hotel that the previous owner and management.” Murray Dow II, president of the Dow, says, “…our proprietary management and marketing programs will give the hotel a strong competitive advantage in a market that has high barriers to new competition.”

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