CHARTRES LODGING GROUP COMPLETES ACQUISITION OF ADAM’S MARK HOTEL PORTFOLIO

SAN FRANCISCO — San Francisco-based Chartres Lodging Group, formerly known as Oxford Lodging Advisory and Investment Group, has completed its acquisition of the 4,867-room Adam’s Mark hotel portfolio from St. Louis-based HBE Corp. The buyer plans to renovate, rebrand and reposition the five properties included in the portfolio. Chartres has an $87 million renovation planned for the 1,840-room Adam’s Mark Dallas, which will be rebranded as Sheraton Dallas Hotel; a $70 million repositioning plan for the 1,225-room Adam’s Mark Denver, which will rebrand the property as Sheraton Denver Hotel; a $63 million renovation for the 910-room Adam’s Mark St. Louis, which will reposition the hotel as the Hyatt Regency St. Louis Riverfront; an $18 million renovation plan for the 406-room Adam’s Mark Indianapolis; and a multi-million renovation for the 486-room Adam’s Mark Buffalo-Niagara in Buffalo, N.Y.