CHM Named Hotel Asset Manager of Hyatt Regency and Marriott Marquis at McCormick Place in Chicago, IL

  

Hyatt Regency at McCormick Place, 2233 South Dr. Martin Luther King Jr. Drive, Chicago, IL

Richard Oldshue

BEVERLY, MA, Feb. 6, 2014—Capital Hotel Management (CHM), a leading hotel asset management and investment advisory firm, today announced that it was awarded the asset management contract for both the Hyatt Regency and planned Marriott Marquis at McCormick Place on behalf of the Metropolitan Pier & Exposition Authority (MPEA).

 “CHM is a proven asset management firm that has produced excellent results for its convention center hotels,” said Richard Oldshue, chief financial officer for the MPEA.  “These two hotels are part of a massive redevelopment project around the convention center, and we believe CHM is an excellent choice to represent the Authority’s interests as the area continues to evolve.”

CHM will provide asset management/operational oversight services for the existing 1,262-room Hyatt Regency McCormick Place, as well as pre-opening advisory and eventual asset management of the planned 1,200-room Marriott Marquis. 

Located adjacent to McCormick Place®, North America’s premier convention facility, both hotels are owned by the MPEA and are operated by Hyatt and Marriott, respectively. 

Situated at 2233 South Dr. Martin Luther King Jr. Drive, the Hyatt Regency McCormick Place recently completed a $110 million expansion and renovation to deliver 1,262 new and like-new guest rooms to the thriving Chicago convention market. 

Chad Crandell

“We are particularly gratified  to be chosen by the MPEA as we were the original asset managers of the Hyatt  Regency McCormick Place when the property first opened in 1998, continuing in that role for the following decade,” noted Chad Crandell, president of CHM. 

“We will build upon that base to help the Authority as they enter this new phase of expansion and with the many intricacies of owning now two major convention center hotels. 

“CHM has become the advisor of choice for numerous publically-funded projects, including the pre-opening, operational ramp up and asset management of properties such as the 1,100-room Hyatt Regency Denver at the Colorado Convention Center and the 750-room Hilton Baltimore Convention Center Hotel, among others. “We are confident this level of expertise will translate into immediate strategies that can be employed at both properties.” Crandell added. 

For more information on CHM, visit their website at www.chmhotel.com or contact them at (978) 522-7002.

For a complete copy of the company’s news release, please contact:

 Chris Daly

(703) 435-6293

chris@dalygray.com