“This is an exceptional opportunity for our team to build upon the 50-year legacy of this property, revitalizing the resort’s impact on the surrounding community...” says Jerome F. Cataldo, president/CEO of Hostmark Hospitality Group.
Schaumburg, IL (PRWEB) March 12, 2014
The Pheasant Run Resort & Spa in St. Charles, Illinois, in foreclosure since 2011, was purchased today by Saint Charles Resort, LLC, a collaborative group of experienced hotel investors and operators who will acquire title upon confirmation of the sale in the underlying foreclosure action. Hostmark Hospitality Group will manage the 473-room property and oversee a $5 million capital improvement project designed to rejuvenate the 250-acre resort founded by Edward McArdle in 1963. Terms of the deal have not been disclosed.
“This is an exceptional opportunity for our team to build upon the 50-year legacy of this property, revitalizing the resort’s impact on the surrounding community, its commerce, and employment opportunities,” says Jerome F. Cataldo, president and CEO of Hostmark Hospitality Group. “We look forward to polishing the entire resort for a grand reintroduction to guests-- past, present and future,” he adds.
Hostmark Hospitality has a proven track record of developing and operating resort properties in the United States, Canada, Egypt and the Caribbean. The company takes a thoughtful approach to capital improvements that are aligned with delivering a superior resort guest experience.
Positioned as the Midwest’s largest entertainment resort, Pheasant Run Resort & Spa attracts leisure, business and meeting clientele with its 18-hole golf course, Spa Vargas, two restaurants, two pool bars, a 320-seat theatre, three lounges, three pools, Zanies Comedy Club, a 38,000 square foot expo center and 42 meeting rooms. Located just one hour west of Chicago, the property also features a new golf practice center with 50 grass hitting stations, putting and short game areas, and state-of-the-art instructional equipment.
Planned capital improvements will include upgraded infrastructure and fresh looks for building exteriors, public spaces and guest rooms and baths. Final decisions regarding the selection of a prominent, Chicago interior design firm will be made shortly according to Cataldo.
About Hostmark Hospitality Group
Hostmark Hospitality Group is a leading hospitality management firm with consistent leadership spanning more than four decades, operating upscale full service hotels, independent boutique hotels, luxury resorts, select service hotels, attractions and concept restaurants worldwide. Headquartered in Schaumburg, IL, with offices in Miami, FL; Denver, CO; and Cairo, Egypt, Hostmark Hospitality Group is an award-winning operator of Marriott, Hilton, Intercontinental Hotels Group, Starwood and Wyndham Hotels. Hostmark Hospitality Group has a proven longstanding reputation for delivering superior results through forward focused ingenuity and exceptional asset management. Visit http://www.hostmark.com for more information.
About Pheasant Run Resort & Spa
Pheasant Run Resort is the Midwest’s largest entertainment resort, located less than an hour from downtown Chicago in historic St. Charles, Illinois. With 473 spacious rooms, several restaurants, three pools, productions by Chicago's acclaimed Fox Valley Repertory, Zanies Comedy Club, Spa Vargas, and an 18-hole golf course, the entertainment options are endless. Pheasant Run Resort also offers 100,000 square feet of meeting space including 42 meeting rooms, an expo center, four distinct ballrooms, a 320-seat tiered amphitheater. For general information about the resort, call 800.4.PHEASANT or visit http://www.pheasantrun.com.