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NexGen acquires SpringHill Suites in Chicago

The 82-suite hotel will undergo full renovation in December

NexGen acquires SpringHill Suites in Chicago

NEXGEN HOTELS HAS acquired the SpringHill Suites by Marriott Chicago Bolingbrook in Chicago. The company, led by Chris Patel as principal, plans to fully renovate the hotel.

The 82-suite hotel is in Bolingbrook a suburb of Chicago, near Chicagoland Speedway, Harrah’s Casino, The Promenade at Bolingbrook, Pelican Harbor Indoor/Outdoor Aquatic Park, downtown Chicago and other shopping, dining and entertainment businesses.


Renovation work on the hotel will begin in December. The hotel’s amenities include an indoor swimming pool and a fitness center.

“When renovations are completed, we expect the hotel to appeal to travelers coming to the Chicago area seeking a well-known brand with modern amenities,” Patel said.

In December, The SpringHill Suites by Marriott San Diego Carlsbad opened in Carlsbad, California. It is owned and managed by DKN Hotels of Irvine, California, led by Kiran Dahya as CEO.

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Peachtree Group Backs The Briad Group’s Retail Expansion

Peachtree backs Briad’s retail expansion

Summary:

  • Peachtree to provide up to $200M to Briad for retail expansion.
  • Private credit platform to fund 2–4 Circle K stores and mini-travel centers yearly.
  • Peachtree has provided Briad $100M+ for hotel developments since 1999.

PEACHTREE GROUP IS expanding into the convenience and fuel retail sector, providing up to $200 million to The Briad Group to develop and acquire new sites. Its private credit platform will support two to four Circle K stores and mini Travel Center projects annually.

Each 7,000-square-foot location combines fuel, convenience retail and quick-service restaurants including Wendy's, Dunkin', Jimmy John's and Buffalo Wild Wings Go, Peachtree said in a statement.

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