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Illinois Hilton Garden Inn Sells for $17M to Local Hotel Operator
SVN Chicago Commercial completed the $17.1 million sale of the 102-room Hilton Garden Inn Mattoon, located at 100 Coles Centre Parkway in Mattoon, Illinois.
Constructed in 2022, the property serves as a prototype for Hilton’s new branded layout, offering a modern design and an updated guest experience aligned with evolving hospitality standards. The hotel was acquired by Lekhraj Ahuja, a local investor and experienced hotel operator. The transaction achieved a 3.6x room revenue multiplier and approximately $167,000 per key, reflecting strong pricing for a newly delivered, brand-aligned asset in a regional market.
Derek Gonsch of SVN Chicago Commercial represented the seller in the transaction. “This sale underscores the continued demand for newly constructed, institutional-quality hospitality assets, even in tertiary markets,” said Gonsch. “Buyers remain highly focused on modern products with strong brand affiliation and operational upside.”
