Vishal Thakkar Of Endeavor Hotels Acquires Embassy Suites In Lombard For $24.1M

The transaction involves the sale of the 262-room Embassy Suites located at 707 East Butterfield Road in Lombard, Illinois. The buyer, Endeavor Hotels, acquired the property out of receivership and resolved a foreclosure related to a matured loan. The sale price was $24,100,000, with a price per key of $91,985.

Summary of transaction details:

• Property Type: Hotel
• Transaction Amount: $24,100,000
• Address: 707 E Butterfield Rd, Lombard, IL
• Keys: 262
• Buyer: Vishal Thakkar - Endeavor Hotels
• Seller: Robert Alter - Seaview Investors LLC; Chelsea Hospitality Partners
• Price per Key: $91,985

The Thakkar brothers plan to invest over $7.8 million in upgrades to the property over a three-year period. They are also leveraging operational synergies with their nearby Hyatt Place, indicating a strategic approach to enhancing the hotel's performance and value.