SAINT LOUIS, MO, January 4, 2016 – An investment group led by Midas Hospitality, LLC has acquired the 74-room Holiday Inn Express – Urbana-Champaign, IL. St. Louis-based hotel owner, operator and developer, Midas Hospitality, LLC will manage the asset.
Opening in 2005, the Holiday Inn Express is located at 1003 Killarney St, Urban, IL, at exit 183 on I-74, just 2-miles north of the University of Illinois. Midas also operates the Candlewood Suites – Champaign-Urbana, just one exit west on I-74. The asset boast 74 guest rooms and suites, fitness center, free breakfast and a heated indoor swimming pool.
The Holiday Inn Express – Urbana-Champaign acquisition comes just two weeks after the acquisition of the Holiday Inn Express – Sikeston, MO. Robert Willard, President & Principal, Midas Hospitality, LLC states, "We are excited about our continued growth of Midas Hospitality, especially within a market where we own and operate another hotel asset, our Candlewood Suites – Champaign-Urbana. Willard adds, "The addition of the Holiday Inn Express – Urbana-Champaign, IL will give us synergies between the properties in sales, revenue management and operations disciplines. The hotel will be completing a PIP over the next 12 -months to incorporate the IHG formula blue scheme."
The Holiday Inn Express – Urbana-Champaign, IL will make the ninth IHG asset within the 22-hotel Midas portfolio. Adding to the portfolio, Midas Hospitality, LLC recently opened the Hampton Inn – Poplar Bluff, MO and is developing a Hampton Inn – Wentzville, MO, a Courtyard by Marriott – St. Louis / St. Peters, MO, a SpringHill Suites – Lenexa, KS, a dual brand Residence Inn / Fairfield Inn by Marriott – Charlotte Airport, NC and a Staybridge Suites – St. Louis / Westport Plaza, all to open in the next 12-months. Kurt Furlong, EVP & Principal – Sales & Marketing, states, "The Holiday Inn Express – Urbana-Champaign, IL is a terrific asset, in a great location, backed by one of the best brands, proximate to I-74 and the University of Illinois" Furlong added "We look forward to leveraging our dual sales effort."
