Crain’s Chicago Business reported on Wednesday that Albert Friedman and White Lodging Services Corp. plan to develop two hotels in Chicago under Hyatt Hotel Corp.’s Hyatt House and Hyatt Place brands, according to people familiar with the matter.
Friedman, chairman and CEO of Friedman Properties, Chicago, and White Lodging Services Corp., Merrillville, Indiana, have agreed to buy the 740 N. Rush St. property from Victory Park Capital, Chicago, for an undisclosed sum. The development partnership already owns the 212-room Hyatt Place Chicago/River North, located about 10 blocks south.
Hyatt Hotels Corp., Chicago, did not confirm the deal when contacted by HOTELS but said it is “interested in increasing our brand presence in Chicago, and we are actively pursuing opportunities to do so.”