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Midas Hospitality Acquires 83-room Candlewood Suites - Champaign, Illinois
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News for the Hospitality Executive |
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| SAINT
LOUIS, MO, August 12, 2010 – St. Louis-based
hotel owner, operator and developer, Midas Hospitality announces the
acquisition of a new Candlewood Suites by InterContinental Hotels Group
in Champaign,
IL. Midas Hospitality has announced further company growth with the acquisition of the 83-room, Candlewood Suites - Champaign, IL. David Robert, states “The addition of the Candlewood Suites to the Midas hotel portfolio further reinforces our aggressive, yet strategic company growth.” Midas Hospitality, co-founded by David Robert, President, and J.T. Norville, CFO, was established in 2006 and quickly became one of the premier hotel management groups in the Midwest. Midas has developed, opened and managed numerous properties including Crowne Plaza, Four Points by Sheraton, Holiday Inn, Holiday Inn Express, Staybridge Suites, Candlewood Suites, Hampton Inn, Comfort Inn, and Fairfield by Marriott among others. “The new Candlewood Suites is located in the northwest quadrant of the neighboring cities of Champaign and Urbana, proximate to the intersection of interstate highways I-57 and I-74”, states Robert. Midas Hospitality also operates a Candlewood Suites in Paducah, KY that opened in July 2008 and has quickly become a market leader in the extended stay segment. David Robert states “The initial developer began construction as a Candlewood Suites in the fall of 2008. At approximately 65% completion, the project stalled as a result of lending issues.” Robert added, “Midas Hospitality was able to secure the asset and resume construction.” The 83-room Candlewood Suite is scheduled to open in December 2010. Kurt Furlong, SVP Sales and Marketing, states “The addition of the Candlewood Suites in Champaign, IL, located within 2 ½ miles of the 42,000 student campus of the University of Illinois, will be a great fit for the extended stay customer backed by one of the most powerful brands, InterContinental Hotels Group”. Midas Hospitality, LLC is an owner, operator, and developer of hotels with a growing portfolio consisting of 10 hotels, in 6 states serving 5 different global brands. For more information on Midas Hospitality locations and services, please visit www.midashospitality.com About Candlewood Suites Hotels Candlewood Suites is focused on comfort, space and value. At more than 260 properties located throughout North America guests find spacious studio and one-bedroom suites, each with their own fully equipped kitchen, large workspace, comfortable recliner, DVD and CD player and complimentary high-speed Internet access. The complimentary fitness center and guest laundry are open around the clock, and the Candlewood Cupboard® is open 24 hours for snacks, refreshments, entrées and other necessities on the honor system. Candlewood Suites hotels offer guests all of this at a very comfortable price. All hotels offer the brand's Comforts of HomeTM Bedding Collection with upgraded mattresses and box spring sets, mattress topper, fluffy duvet inserts and poly-cotton covers matching the hotel's color scheme, 250-thread count micro-check sateen sheets in "Candlelight", triple sheeting, contemporary cotton estate blankets, choice of three upgraded pillow types in firm, medium and feather and a decorative "Consider Us Home" pillow. About InterContinental Hotels Group InterContinental Hotels Group (IHG) is the world’s largest hotel group by number of rooms. IHG franchises, leases, manages or owns, through various subsidiaries, over 4,500 hotels and more than 650,000 guest rooms in 100 countries and territories around the world. The Group owns a portfolio of well recognized and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo®, Crowne Plaza® Hotels & Resorts, Holiday Inn® Hotels and Resorts, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites® and also manages the world’s largest hotel loyalty program, Priority Club® Rewards with 52 million members worldwide. |
| Contact:
Midas Hospitality |