Banyan Investment Group Acquires 89-Room Fairfield Inn & Suites by Marriott Peoria East in Illinois
Banyan Investment Group, an Inc. 5000 recognized hotel investment and management company that acquires and manages select-service hotels in the United States, today announced that it acquired the 89-room Fairfield Inn & Suites by Marriott Peoria East. The company also will operate the hotel, its eighth acquisition from its recently launched BIG Hotels LP I, LLC fund.
"Due to our strong and longstanding industry relations, we were able to source this deal off-market at an attractive price at better than replacement costs," said Rakesh Chauhan, president and CEO, Banyan Investment Group. "Equally important, this recently constructed property meets all our of acquisition criteria: it's a strongly branded hotel in a market with exceptional demand generators that are able to better weather any fluctuations in the economy. Peoria is a strong and stable market, and we look forward to becoming an active member of the community."
Fairfield Inn & Suites by Marriott Peoria East Located at 200 Eastlight Court, the four-story hotel is situated at the Main Street Exit #95 off I-74. The hotel is in proximity to the Peoria Civic Center, Bradley University, Peoria International Airport, Caterpillar Corporate Headquarters, Peoria Civic Center, Bradley University, OSF St. Francis and Methodist Medical Centers, and the Par-A-Dice Riverboat Casino. Guest rooms provide flat-screen televisions, complimentary Wi-Fi and desks with ergonomic chairs, as well as coffeemakers. Suites have separate living areas with pull-out sofas, microwaves and minifridges. Hotel amenities include a complimentary breakfast daily, full kitchen with utensils, fitness center, indoor pool, hot tub, full service laundry and 24/7 business center.
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 
