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 Milestone Investments, Inc. and Regency Inns Management, Inc. Jointly Acquire the Clock Tower Resort and Conference Center in Rockford, Illinois
 
Wayzata, Minnesota - May 24, 1999 -  Milestone Investments, Inc. and Regency Inns Management, Inc. have jointly acquired the 244-room Clock Tower Resort and Conference Center in Rockford, Illinois.  The property was acquired from United Realty Corporation and Clock Tower Properties, Inc. both controlled by the Atwood Family.  Terms of the transaction were not disclosed.

The Hotel is located on I-90 just 60 miles from Chicago O'Hare International Airport.  The Clock Tower Resort and Conference Center is the largest hotel and meeting facility in the Rockford MSA (population 350,000).  The Hotel is situated on 26 acres and includes 244 guestrooms, over 36,000 square feet of function space in over 27 meeting rooms and a 45,000 square feet racquet club and fitness center.  The Hotel has 3 pools, 3 whirlpools and 9 tennis courts.  The property will receive a $1,000,000 renovation. 
 

The Clock Tower Resort & Conference Center 
by the numbers:
  • 50,000 square foot Fitness Center
  • 30,000 square feet of Conference & Banquet Space
  • 360 Employees
  • 252 Guest Rooms
  • 180-Seat Theatre
  • 27 Acres of Grounds
  • 23 Meeting Rooms
  • 20 Suites
  • 9 Tennis Courts (7 indoor plus 2 outdoor)
  • 5 Shops
  • 4 Restaurants and Lounges
  • 3 Swimming Pools (1 indoor and 2 outdoor)
  • 2 Limousines
  • 2 Racquetball Courts
  • 2 Volleyball and Basketball Courts
  • 1 Full-Service Salon
  • 1 Dinner Theatre
  • 1 Museum
  • 1 Playground
  • 1 Video Arcade

Over the past twelve years, Milestone and Regency together have purchased twenty-six hotel properties with a value of over $200 million from institutions such as Bank of New York, Equitable Real Estate, Prudential Insurance Company, New World Bank, First Bank Systems and Radisson Hotels. 

###
 
Contact:
Jasen Mark 
Vice President - Acquisitions
(612)-476-8516  ext. 107
jasen@milestoneusa.com
Milestone Investments, Inc.
681 East Lake Street, Suite 246
Wayzata, Minnesota 55391
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Also See: Eight Outstanding Hotel Managers and Employees Honored by the Hotel-Motel Association of Illinois / Nov 1998 

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