Summary:
- Witness Investment acquired the 117-key Hilton Garden Inn in Springfield, Illinois, from Schulte Hospitality Group.
- The hotel is near the University of Illinois Springfield, Capital City Shopping Center and the $67 million Scheels Sports Park, expected to draw 200,000 visitors and generate $30 million annually.
- Witness, based in Indianapolis, is led by principals Gurtej Medi and Sagar Patel.
WITNESS INVESTMENT RECENTLY acquired the 117-key Hilton Garden Inn Springfield in Springfield, Illinois, from Schulte Hospitality Group. The transaction is part of the company’s strategy for expansion in the region.
The hotel is near the University of Illinois Springfield, Capital City Shopping Center and the $67 million Scheels Sports Park, which is expected to draw 200,000 visitors annually and generate $30 million in economic impact, according to Hunter Hotel Advisors that facilitated the transaction.
It serves travelers visiting Springfield landmarks such as the Abraham Lincoln Presidential Library and Museum, Lincoln’s home and the Illinois State Capitol, the city’s largest employer.
Manufacturers including BUNN-O-Matic, Standard Aero and Richardson Manufacturing support the regional economy and contribute to Illinois’ position as the nation’s fourth-largest manufacturing state.
Amenities include a fitness center and indoor pool, Hunter said in a statement.
Indianapolis-based Witness is led by principals Gurtej Medi and Sagar Patel. Spencer Davidson, senior vice president, represented Hunter.
“We are excited to add the Hilton Garden Inn Springfield to our portfolio,” said Medi. “The hotel’s location near key demand drivers—government, healthcare and the new Scheels Sports Park—aligns with our strategy of targeting high-potential assets in resilient Midwest markets. We look forward to building on its performance and continuing to deliver value to guests, partners and the community.”
Schulte, based in Louisville, Kentucky, is led by Chairman and CEO Darryl Schulte and Founding Principal Ray Schulte.
Private equity firm Excel Group recently acquired the Residence Inn and Hampton Inn & Suites in Coconut Creek, Florida.
