Atira Hotels Completes Acquisition of the Historic Stephenson Hotel in Freeport, IL
25/11/05 21:23 Filed in: Press
Release
FOR IMMEDIATE RELEASE:
Atira Hotels Completes Acquisition of the Historic Stephenson Hotel in Freeport, IL
Freeport, Illinois, November 21st, 2005:
Atira Hotels, a Chicago-based hotel developer and operator, today announced that the company has completed the acquisition of the Historic Stephenson hotel in Freeport, Illinois. Atira hotels plans to complete a major redevelopment of the hotel, converting the facility into a top franchised limited service hotel.
Revitalizing Downtown Freeport
The 74-room hotel will undergo a $3 million conversion and redevelopment of all guestrooms, public space and banquet and meeting facilities. Atira Hotels has worked with the city of Freeport to utilize Tax Increment Financing to help facilitate this project, and to contribute to the ongoing revitalization of downtown Freeport. “We are excited to be a part of the Freeport community and will be working with the city and local businesses in the upcoming months to ensure that we create a hotel product that best meets the community’s needs and brings people together in downtown Freeport,”. In addition to the hotel, Atira Hotels plans to attract a national restaurant chain to operate a restaurant in the building.
Atira Hotels
Atira Hotels is a hotel development and management company based in Chicago, Illinois. Atira principals have been involved in developing and operating hotels under 14 franchise hotel brands in over nine states across the United States. Atira is focused on developing and managing branded hotels in strategic U.S. markets.