Pearlshire Capital Group Acquires 172-key Holiday Inn Chicago SW Countryside Conference Center
Chicago, IL - July 31, 2014 - Pearlshire Capital Group has taken ownership of the Holiday Inn Chicago SW Countryside Conference Center and William Tell Restaurant.
As new owners of the 172 room Chicago hotel, Pearlshire Capital Group, specialists in distressed real estate investments, will invest $8 million in capital improvements to reposition the property. Pearlshire Capital Group will retain the services of Ultima Hospitality, the company that has successfully managed the landmark property since 2012. "We are looking forward to working with Ultima Hospitality as we enter an exciting phase for the Holiday Inn Countryside" commented Rehan Zaid, a principal of Pearlshire. "Working together on our plans for an extensive renovation of this historic property will develop great potential for the hotel and our partnership."
Ultima Hospitality, based in Chicago, Illinois is an industry leader providing full service and select service hotel management. "We are thrilled to have the opportunity to begin our partnership with Pearlshire Capital Group" said Chief Operating Officer Mark Zettl. "For the past two years we have produced strong results at Holiday Inn Countryside. The owner's commitment and the plans to improve the hotel will allow the team to grow our business and elevate the guest experience."
Ultima Hospitality's commitment to guest service is their fundamental distinction as a hospitality management company. With extensive experience in hospitality and commercial real estate management among its senior leadership, Ultima Hospitality has working relationships with all major hotel brands, including Choice Hotels, Inter Continental Hotels, Marriott, Hilton, Hyatt, Starwood and Wyndham Hotels.
Hosting more than 120 wedding events a year, Holiday Inn SW Countryside Conference Center and William Tell Restaurant boast more than 25,000 sq. ft. of conference space along with an indoor recreational center featuring an Olympic size pool, two Jacuzzis, a sauna, a children's pool, a Fitness Center and game area. The hotel is situated close to downtown Chicago, Chicago O'Hare International Airport and Chicago's Midway Airport, with a complimentary shuttle available to and from Midway Airport.
For more information about Holiday Inn SW Countryside Conference Center and William Tell Restaurant, visit www.holidayinn.com/countrysideil.
About Pearlshire Capital Group
Pearlshire Capital Group offers high quality opportunistic investments. It specializes in alternative investments, with a focus on real estate & manufacturing. The company's mission is to build a real estate portfolio that yields long-term sustainable returns. The company employs a distinct and selective due diligence process that identifies investments with demonstrated growth prospects and base line fundamentals to meet expectations. In addition to building a comprehensive portfolio, Pearlshire Capital Group continuously pursues analytical, opportunistic and cost-efficient measures that aim to enhance the performance, administration and development of existing real estate holdings.
About Ultima Hospitality
Ultima Hospitality L.L.C., the hotel investment and management division of Waterton Associates, L.L.C., is a select and full service hotel owner and operator focused on identifying and executing value-add opportunities nationwide. Ultima's senior leaders each have over 15 years' experience investing in and managing hotel investments in major U.S. markets. An approved operator of some of hospitality's best brands, Ultima focuses on creating the optimal guest experience while maximizing total return on investment. Waterton Associates is headquartered in Chicago with seven regional offices in the U.S. and manages over $3.5 billion in real estate investments, including Ultima's portfolio of eleven hotels.
About Holiday Inn
With over 1,200 hotels worldwide, Holiday Inn® is the most widely recognized lodging brand in the world. In fact, Holiday Inn was one of the first international hotel brands to establish a presence in China in 1984. Holiday Inn provides the services that business travelers need, while also offering a comfortable atmosphere where all people can relax and enjoy amenities such as restaurants and room service, swimming pools, fitness centers and comfortable lounges. The casual atmosphere and amenities such as meeting and on-site business facilities, KidSuites rooms and, Kids Eat and Stay Free programs, demonstrate the long-standing commitment of Holiday Inn Hotels and Resorts to serving travelers and have helped to establish the brand as "America's Favorite Hotel." And now, Holiday Inn is ranked highest in guest satisfaction among mid scale full service hotel chains, according to the J.D. Power and Associates 2011 North America Hotel Guest Satisfaction Index StudySM. Visit www.holidayinn.com for more information.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
