Buyers of all three hotels have their headquarters locations in Bethesda, MD. While DiamondRock Hospitality is based there, so is LaSalle Hotel Properties. The REIT, which still has 25% of its portfolio in Downtown Chicago, was a partner with Carlyle Group on the Marriott at 540 N. Michigan Ave. According to property records, the hotel was acquired for $104.1 million in January 2000.
DiamondRock Hospitality's holdings include the 384-room Oak Brook Hills Marriott Resort, which it bought last year for $64 million. The company embarked on an $11-million renovation at the 127-acre property, which includes an 18-hole golf course and 43,926 sf of meeting space.
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