CHICAGO & MCLEAN, Va. - The Elysian Hotel Chicago, which recently earned the coveted distinction of being the #1 hotel in the United States according to readers of Conde Nast Traveler, has been acquired by a joint venture between Hilton Worldwide, the parent company of Waldorf Astoria Hotels & Resorts; an Equity Group Investments affiliate; and Elysian principals. Terms of the transaction were not disclosed. The hotel's new ownership plans to rebrand the hotel Waldorf Astoria Chicago on February 1st, 2012. The Waldorf Astoria Hotels & Resorts brand, which draws its inspiration from the legendary Waldorf=Astoria New York, is known for delivering highly personalized service and is one of the world's fastest growing luxury hospitality brands. Waldorf Astoria Hotels & Resorts plans to use the strength of its worldwide presence to capitalize on the tremendous operational and financial success the Elysian has enjoyed since opening in late 2009.
"We're taking the best of the Elysian and bringing it into the world-class network of Waldorf Astoria," said John T.A. Vanderslice, global head of Luxury and Lifestyle Brands for Hilton Worldwide. "The Elysian's well deserved reputation for anticipatory service and attention to detail, as well as its stunning design and outstanding amenities, reflect the discerning needs of today's luxury guest, and are hallmarks of the Waldorf Astoria brand."
Located in the heart of Chicago's Gold Coast neighborhood, just steps off of Magnificent Mile, the Elysian comprises a hotel, 51 luxury private residences, restaurants, a spa and event and meeting rooms. The building, which was designed by renowned architect Lucien Lagrange, features a richly detailed exterior and European courtyard reminiscent of the grand hotels of the 1920's, while the interiors embrace a sophisticated, urban sensibility. The hotel features 188 spacious guestrooms and suites boasting elegantly modern furnishings, fireplaces and marble bathrooms with soaking tubs. The Elysian is also home to two distinct culinary experiences - Balsan, a contemporary bistro showcasing refined, yet rustic fare, and RIA a two-Michelin-star restaurant offering modern, seasonally driven French cuisine. Bernard's, the hotel's bar, is reminiscent of a plush private club. The Elysian Spa & Health Club, which spans more than 14,000 square feet, offers a wide-ranging menu of personalized services as well as a nail spa, barber suite, relaxation areas and a fitness facility, as well as a mosaic-tiled lap pool, whirlpools, saunas and steam rooms. The compilation is an amenity-rich environment for the most discerning of guests.
Equity Group Investments made its investment through the Zell Credit Opportunities Fund, which was established to focus on the recapitalization of over-leveraged assets and companies, and to invest opportunistically in loans and credit securities in both the real estate and corporate arenas.
Robert Webster led the team at Jones Lang LaSalle Hotels that represented Elysian's original ownership in the transaction
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About Equity Group Investments
Equity Group Investments (EGI) is the private investment firm founded by Sam Zell more than 40 years ago. The firm has an active portfolio spanning industries and continents with interests in real estate, energy, logistics, transportation, media and health care. For more information visit egizell.com.
About Waldorf Astoria Hotels & Resorts
Waldorf Astoria Hotels & Resorts is a portfolio of 24 landmark destinations, each being a true reflection of their surroundings in the world’s most sought after locations. Unified by their inspirational environments and unparalleled guest service, Waldorf Astoria creates unique authentic moments through the delivery of True Waldorf Service. Personal concierges deliver unparalleled, bespoke service from the moment a guest books through check out. From signature culinary excellence, 12 world-class golf courses and 23 rejuvenating spas, Waldorf Astoria offers luxuriously appointed accommodations and unforgettable experiences. Waldorf Astoria is part of Hilton Worldwide, a leading global hospitality company. Experience Waldorf Astoria by booking at www.waldorfastoria.com or learn more about this expanding portfolio by visiting news.waldorfastoria.com.
About Hilton Worldwide
Hilton Worldwide (NYSE: HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 94 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company’s portfolio of ten world-class global brands is comprised of more than 4,000 managed, franchised, owned and leased hotels and timeshare properties, with more than 678,000 rooms in 91 countries and territories, including Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Hilton Hotels & Resorts, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®.
Luxury and Lifestyle Brands PHONE+1 703 883 5381 EMAILhiltonpr@hilton.com ADDRESSHilton Worldwide
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