McNeill Hotel Investors Acquires Hyatt Place Bloomington / Normal, IL
McNeill Hotel Investors ("McNeill") announced today the acquisition of the 114-room, upscale select service, Hyatt Place Bloomington / Normal, IL, adding to the company's growing portfolio and expanding its presence in the Midwest market. The announcement was made by Phillip McNeill, Jr., the company's chief executive officer.
The Hyatt Place Bloomington / Normal features a spacious, attractive lobby and relaxed rooms that offer partially separated sitting areas with desks and pullout sofas. The rooms feature tea and coffeemakers, minifridges and wet bars, along with 42" flat-screen HDTV, iPod docks and free Wi-Fi. Upgraded rooms offer higher-floor city views.
Parking and a local shuttle service are complimentary. Other amenities include a 24-hour snack bar, a mini-mart and a Coffee to Cocktails bar, as well as an indoor pool, a 24-hour fitness room and 3 meeting rooms. World of Hyatt loyalty program members receive free breakfast and the property is pet friendly.
Located at 200 Broadway Avenue in the heart of Uptown Normal, in addition to being adjacent to Illinois State University and a short walk to Illinois Wesleyan University, the Hyatt Place Bloomington / Normal is convenient to Uptown Station, the Miller Park Zoo, Shoppes at College Hills Mall, Hancock Stadium, U.S. Cellular Coliseum, the Bloomington Center for the Performing Arts, the Children's Discovery Museum and David Davis Museum. Nearby golf courses Weibring Golf Club, Prairie Vista Gold Course and The Links at Ireland Grove Gold Course.
Several major employers populate the area. Bloomington is the Corporate Headquarters for State Farm Insurance, which includes administration, research and training facilities. Recently, electric-vehicle maker Rivian booked a deal to build 100,000 delivery vans for Amazon at the former Mitsubishi plant in Normal. The order has been depicted as a major element in Amazon's environmental strategy.
"As we continue to explore investment opportunities in the Midwest," said McNeill, "we are proud to acquire this outstanding property, our first in Illinois and one that enjoys an excellent reputation, to our portfolio."
"Bloomington / Normal is an attractive community with walkable downtowns," added Mark Ricketts, the company's president and chief operating officer. "In addition to demand drivers that include strong demographics and excellent proximity to regional transportation networks, this property also fits our acquisition profile for the college market segment with the oldest public university in Illinois, Illinois State University, adjacent to the hotel and Illinois Wesleyan University just a short walk away.
"Additionally," Ricketts continued, "we are pleased to be partnering with Hyatt, as we add the first Hyatt brand property to our McNeill select service portfolio.
The acquisition by McNeill Hotel Investors was facilitated by capital secured by McNeill through New York-based Almanac Realty Investors LLC.
McNeill Hotel Investors and McNeill Hotel Company now own and manage 24 select service hotels across the Southeast, the Midwest and Mountain West States, with several additional properties in the acquisition and development pipeline.