Chicago IL – October 16, 2015 (hospitalitybusinessnews.com) According to a report in Crains Chicago Business, Clearview Hotel Capital has sold the Westin O’Hare hotel to Clarion Partners for $82M.
Headquartered in Newport Beach, California, Clearview Hotel Capital, LLC is a privately-held hotel investment and advisory company focused on acquiring and asset managing hotels in urban and unique locations.
Founded in 2007 by Jon Kline, Clearview has acquired over $1 billion of hotels containing over 7,400 rooms.
Once the Westin O’Hare sale is completed Clearview will have 11 properties.
In August 2012 Clearview Hotel Capital LLC paid $37 million, or about $70,500 a room, for the 525-room hotel . They subsequently injected $18M in a major renovation. The Westin sold in November 2006 for $125 million.