Spain’s Riu Household Plans Streeterville Resort Aimed at Wealthy International Travelers

< img src ="https://www.thirdcoastmediation.com/wp-content/uploads/2021/04/l9HdGc.jpg"class="ff-og-image-inserted"> An endeavor of RIU Hotels & & Resorts intends to create a 388-key resort at 150 E. Ontario St. in Streeterville, Crain’s Chicago Service reported. The Prime Group’s Michael Reschke informed Crain’s that RIU had employed him to develop the building, anticipated to cost someplace under $200 million.

Spain’s Riu family members wishes to damage ground this summer. It plans to money the task, referred to as the RIU Grand Plaza Resort, with cash as opposed to line up a building funding, which could be hard to get while the pandemic effects the accommodations market, Crain’s reported.

Reschke said RIU is mainly targeting well-off international tourists that tend to remain at several RIU hotels throughout check outs to the UNITED STATE

“They uncommitted regarding regional demand,” Reschke stated. “The appeal is RIU will bring many of the visitors to this hotel with their own traveling network– worldwide tourists that stay longer and also invest more money.”

Providing courtesy of Lucien LaGrange Studio.

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Paul Bubny acts as Senior Content Supervisor for Attach Commercial Property, a function to which he brings 13-plus years’ experience covering the industrial genuine estate sector as well as 30-plus years in business-to-business journalism.
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Published at Mon, 05 Apr 2021 04:06:25 +0000

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