Wheaton Park District staff will talk with developers to gauge interest in a hotel at the Arrowhead Golf Club property after a market study found it might not be a profitable venture.
A market study on the potential profitability of a hotel at Arrowhead Golf Club found the additional revenue to the park district would be marginal, and would be considered a “questionable venture” by experienced investors. Despite the results of the study, parks executive director Mike Benard told the board of commissioners Wednesday he knows of three developers interested in the property. The board directed Benard to present the report to the developers to gauge their interest for the project and to verify a staff report with a third-party consultant regarding the revenue a hotel would generate at Arrowhead. The Wheaton Park District earlier this month hired a consultant to conduct a study of the area to determine whether leasing land at…
Park district officials will direct staff and legal counsel whether to move forward with a plan to bring a hotel to the Arrowhead Golf Club property.
The Wheaton Park District Board of Commissioners on Wednesday will consider a proposal to open a hotel at Arrowhead Golf Club. The board in December 2011 renewed a letter of commitment with Fairway Suites, a Kansas City-based developer of hotels on golf courses. The letter, originally approved July 20, 2011, allows Fairway to represent the park district while marketing a 50-year lease on the property to hotel brands including Marriott, Hilton, Hyatt, International Hotels, Choice Hotels and LaQuinta, to open an extended-stay hotel at the property on Butterfield Road. According to a report submitted to the park district by Fairway, the hotel would have approximately 120 suites. Assuming the hotel operates at 70 percent occupancy, the hotel …
Patch recaps top news stories from the week of Nov. 27-Dec. 3.
Cubs Outfielder Moves to Wheaton David DeJesus, who signed with the Chicago Cubs Wednesday, Nov. 30, bought a house in Wheaton, according to the Chicago Tribune. Wheaton College Mourns Death of Student, Other Plane Crash Victims Students gathered in chapel Monday to mourn the loss of Ramie Harris, a 21-year-old junior who died in the crash of a small plane near Crystal Lake last Saturday. COD Votes to De-Annex While Village Begins Enforcing Local Ordinances on Campus College of DuPage officials voted Wednesday to sever ties with the Village of Glen Ellyn. However, village officials were set to begin enforcing local ordinances and codes at the college Dec. 1. Park District Exploring Idea for Hotel at Arrowhead Park officials approved an …
Joan
10:41 pm on Saturday, November 3, 2012
Why should a park district operate a commercial enterprise like a hotel? Why not let a private enterprise invest in building a hote? Republicans believe in less government - why would a Wheaton elected board decide to compete with the Hiltons, Holiday Inns etc.? more ›