WoodSpring Hotels has partnered with Holladay Properties, a privately held, full-service commercial real estate firm, to develop their third hotel in the Chicago market. This property will be located in Tinley Park, Ill., near the intersection of I-80 and Harlem Avenue. Holladay Properties currently owns two operating WoodSpring Suites hotels in Romeoville and Darien, Ill.
Construction is underway with a planned February 2018 opening. Once completed, the new, four-story, 123-suite hotel will feature in-room kitchens, free high-speed internet, guest laundry and a fitness room.
“The WoodSpring Hotels team has exceeded our expectations from pre-planning to opening and operating our two locations in 2016 in Romeoville and Darien,” said Tim Healy, senior vice president and partner at Holladay Properties. “Our appetite remains robust as we continue our strategic expansion of Holladay’s hotel portfolio now in Tinley Park and elsewhere throughout Chicagoland.”
“We continue to seek best-in-class development partners such as Holladay Properties as we continue with our own, aggressive growth plans,” said Ron Burgett, executive vice president of franchise development and operations for WoodSpring Hotels. “With its existing Illinois-based WoodSpring portfolio, Holladay Properties is a proven local player in the extended-stay segment and the ideal franchise partner to help us grow the brand throughout the Midwest.”
WoodSpring Hotels owns 96 hotels and provides management services for both company-owned and franchised locations under the WoodSpring Suites and Value Place brands.
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