Two suburban Chicago hotels have closed their doors due to the economy and increasing competition, according to local news reports.
The 467-room Wyndham O'Hare in Rosemont, Ill., ceased operations on Jan. 1 while the 429-room Sheraton Chicago Northwest in Arlington Heights, Ill., closed its doors—and those of its $25 million CoCo Key Water Resort—on Dec. 28.
"They've carried these properties as long as they can and they were staring at two pretty grim months [January and February]," industry consultant Ted Mandigo told the
Chicago Sun-Times.
Together, the hotels had more than 60,000 square feet of meeting space—approximately 30,000 square feet at each hotel. It was not immediately clear whether groups who had events booked at either property would receive refunds or relocation assistance.
—Nielsen Business Media