Transcript of "Hotel for Sale - Stratford Inn Illinois"
Stratford Inn – Sycamore, IllinoisPerfectly matched buyer and propertyHotel for Sale: Stratford InnMarket: Sycamore (DeKalb), IllinoisThe historic Stratford Inn was originally built in 1926 in the heart of downtownSycamore, Illinois. Located 65 miles west of Chicago, and within one hour of threeother largest cities in Illinois, the boutique hotel also benefits from its closeproximity to Northern Illinois University. The Stratford Inn was completelyredeveloped in the late 1980’s but was then allowed to decline twenty years laterbefore it was foreclosed by its lender.ChallengeThe Stratford Inn contains 39 rooms, a restaurant, lounge and banquet facility.Based on the limited number of guestrooms and full-service nature of the operation,few buyers surfaced who had the skills to run such a hotel.Hotel Sales/Marketing ProcessThrough an aggressive sales and marketing process, prospective buyers wereidentified who owned independent hotels, historic properties as well as had aspecialty of operating full-service hotels. Alterative use buyers were also targeted.ResultsThe buyer who eventually closed on the purchase of the property had a true passionfor the industry. Although this group had no hotel ownership experience, they
assembled a team of professionals to oversee a repositioning strategy of theStratford Inn. The new ownership group spent considerable time listening to thebusiness and social communities to determine what they wanted in a hotel. Thehotel will again be operated as a full-service operation serving the needs of thecommunity.