Illinois Beach Resort, located in Zion, Illinois, has recently been sold. The resort was purchased by American Hotel Income Properties REIT LP (AHIP), a Canadian real estate investment trust, for $27 million.
The Illinois Beach Resort was previously owned by the State of Illinois and was managed by a private company. The resort features 92 guest rooms, two restaurants, a fitness center, and meeting and event spaces.
According to AHIP CEO John O’Neill, the purchase of Illinois Beach Resort aligns with the company’s strategy of acquiring premium-branded select-service hotels in strong markets. O’Neill also stated that the company plans to invest an additional $3 million in renovations to the property over the next two years.
This acquisition is not AHIP’s first entry into the U.S. hotel market. The company currently owns 79 hotels across 22 U. states.
The sale of Illinois Beach Resort has been met with mixed reactions from locals and tourists alike. Some are concerned about potential changes to the resort’s atmosphere and amenities under new ownership, while others are hopeful that the renovations will enhance their experience at the resort.
Regardless of opinions on the sale, it is clear that AHIP sees potential in Illinois Beach Resort as a valuable addition to their portfolio of hotel properties.
In conclusion, American Hotel Income Properties REIT LP’s purchase of Illinois Beach Resort marks a significant change for both visitors and residents of Zion alike. With plans for extensive renovations and upgrades on the horizon for this beachfront property, it remains to be seen what changes this new ownership will bring to this beloved vacation destination.
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