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DHC Adds Doubletree Hotel for Nearly $65M

ROSEMONT, IL-The Dow Hotel Co. is buying Doubletree Chicago-O'Hare, and also owns the adjacent Embassy Suites Hotel, for a total of more than 660 rooms.

By Gina Kenny | Updated on August 04, 2007

ROSEMONT, IL-A joint venture of Dow Hotel Co., based in Seattle, and New Jersey-based Prudential has acquired the Doubletree Hotel Chicago-O’Hare Rosemont, at 5460 N. River Rd. The sales price was slightly less than $65 million, a source says. The hotel was acquired from an affiliate of Los Angeles-based Lowe Enterprises, which acquired the property in 2004 for $43.8 million, according to sources. The land the hotel is on is owned by the village of Rosemont, which will lease it to the joint venture until 2099, says Murray Dow, president of Dow Hotel.

The Doubletree Hotel Chicago-O’Hare Rosemont has 369 rooms, more than 19,000 sf of meeting space and Gibsons Steakhouse. The 10-story hotel, which was constructed in 2000, is also across from the Donald E. Stephens Convention Center. The hotel will undergo a $3-million renovation that will include refurbishing the restaurant, including flat screen televisions, Dow says. The hotel had recently undergone a complete refurbishing of all of the guestrooms. “We tried to buy the hotel back in 2004, when Lowe bought it, and it did not work for us then,” he says.

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