Blue Sky Hospitality Acquires Hyatt Regency Deerfield Hotel For $21.5M

A venture linked to Blue Sky Hospitality in Uniondale, New York, has purchased the 301-room Hyatt Regency Deerfield located at 1750 Lake Cook Road for a sale price of $21.5 million. The hotel, previously owned by Phoenix Development Partners, was sold at a loss from its previous purchase price of $31.5 million in 2018, despite undergoing $14 million worth of renovations. The Hyatt Regency Deerfield is situated in the Deerfield market and boasts a prime location near Lake Cook Road.

Summary of transaction details

• Property Type: Hotel
• Transaction Amount: $21,500,000
• Address: 1750 Lake Cook Road, Deerfield
• Market: Deerfield

The buyer, Blue Sky Hospitality, represented by Naveen Shah, has acquired the Hyatt Regency Deerfield as part of their growing portfolio. On the seller's side, Phoenix Development Partners, represented by John Mangel, facilitated the sale of the property. No immediate comment was provided by a Blue Sky executive regarding the purchase.