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Highlights
Fortress Investment Group acquired the 525-key Westin O’Hare in Rosemont for $50 million, resulting in a 39 percent loss, or a $32 million evaporation of value, for the seller, Clarion Partners, compared to its 2015 purchase price.
The $95,000-per-key price paid by Fortress, compared to the $40,000-per-room price in a late 2024 deal for the huge Hyatt Regency O’Hare, signals a stabilizing market and renewed confidence in the full-service suburban hospitality model near O’Hare International Airport.
Fortress, known for dealing in distressed properties, is betting on bridging the gap between pandemic-era pricing and previous premium valuations, leveraging the Westin’s location near the Donald E. Stephens Convention Center and the Fashion Outlets of Chicago.