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RLJ Development Acquires Two Hotels for $80M

CHICAGO-Robert L. Johnson, founder of Black Entertainment Television and now a hotel mogul as well, has bought the Hilton Garden Inn Downtown Chicago and a Courtyard by Marriott in Providence, RI.

By Bonnie Grota | Updated on October 31, 2002

CHICAGO-Bethesda, MD-based RLJ Development has bought a major Downtown Chicago hotel property, along with another hotel in Rhode Island, in a deal valued at about $79.4 million. FFC Hospitality, a Pittsburgh-based owner of hotels and other properties, sold the 357-room Hilton Garden Inn in Chicago, and the 216-room Courtyard by Marriott in downtown Providence, to RLJ, which is the largest wholly African-American-owned hotel company in the United States.

Both properties are relative recent additions to their respective markets. The Hilton Garden Inn Chicago Downtown opened in September 1999 at 10 E. Grand Ave. as the largest hotel in the Hilton Garden Inn system. The Courtyard by Marriott in Providence opened in August 2000 in Union Station Plaza, adjacent to the Rhode Island Convention Center.

Weber Grill currently leases the Hilton Garden Inn’s restaurant space. RLJ plans to convert about 1,800 sf of underutilized space to additional meeting space.

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