The Elysian to Become Waldorf Astoria Chicago
Waldorf Astoria Hotels & Resorts, Equity Group Investments Affiliate and The Elysian Principals Form Joint Venture to Acquire Elysian Hotel Chicago
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 Hilton Hilton (NYSE: HLT) is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 4,900 properties with over 800,000 rooms in 104 countries and territories. Hilton is dedicated to fulfilling its mission to be the world’s most hospitable company by delivering exceptional experiences – every hotel, every guest, every time. The company's portfolio includes Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Canopy by Hilton, Curio - A Collection by Hilton, DoubleTree by Hilton, Tapestry Collection by Hilton, Embassy Suites by Hilton, Hilton Garden Inn, Hampton by Hilton, Tru by Hilton, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton Honors. Hilton Honors members who book directly through preferred Hilton channels have access to instant benefits, including a flexible payment slider that allows members to choose exactly how many Points to combine with money, an exclusive member discount that can’t be found anywhere else and free standard Wi-Fi. Visit newsroom.hilton.com for more information and connect with Hilton on Facebook, Twitter, LinkedIn, Instagram, and YouTube.