HILCO REAL ESTATE SALES ANNOUNCES ONTARIO AIRPORT HOTEL AND CONFERENCE CENTER AVAILABLE THROUGH BANKRUPTCY SALE IN ONTARIO, CALIFORNIA

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Jun 26, 2024, 09:26 ET

NORTHBROOK, Ill., June 26, 2024 /PRNewswire/ -- Hilco Real Estate Sales announces July 9, 2024, as the qualifying bid deadline for the Chapter 11 bankruptcy sale of the 309-key Ontario Airport Hotel & Conference Center located in Ontario, CA.

This premier, full-service hotel is situated on 8.48 acres, just minutes from Ontario International Airport and the Ontario Convention Center, making it an ideal investment for creative hospitality operators and redevelopers. The 232,430± SF hotel features ample meeting space, a restaurant and bar, coffee shop, outdoor pool, fitness room and more. Currently operating as an independent hotel, this property presents a significant opportunity for new ownership to partner with renowned national and international hotel brands. The offering allows for acquisition of a performing asset at a substantial discount to replacement cost.

Boasting over 22,000± SF of meeting and banquet space, the hotel's main tower serves as the hub for 16 separate breakout spaces. It also includes a 5,300± SF area capable of accommodating a reception of up to 750 guests, along with an Executive Boardroom. Partial renovations were completed in 2023.

Conveniently located off Interstate 10, the hotel offers easy access to all major freeways, enhancing its connectivity and appeal. Situated in the heart of the Inland Empire, the hotel is minutes away from key demand drivers such as California Speedway, Citizen's Business Bank Arena, Victoria Gardens and Ontario Mills shopping malls.

Ontario, recognized as the logistics capital of the U.S., recently saw Amazon complete the largest logistics building ever developed in the country—a 4.1 million SF facility. This underscores the area's strategic importance and growth potential. The hotel is steps from Ontario International Airport, where passenger volume surged 12% to 6.4 million in 2023, surpassing pre-pandemic levels for the second consecutive year.

Keith Worsham, head of the National Hotel Team at Hilco Real Estate Sales, stated, "This is a unique opportunity to acquire a well-performing hotel property in a key location. With its extensive amenities and potential for brand affiliation, the Ontario Airport Hotel & Conference Center represents a significant investment prospect in the vibrant Inland Empire region."

Jeff Azuse, executive vice president at Hilco Real Estate Sales, added, "Whether maintaining its independent status or rebranding with a leading hotel chain, new ownership can significantly enhance the value and performance of this asset."

The sale is subject to Bankruptcy Court Approval. Starbridge (Ontario) Investment, LLC, a debtor and debtor-in-possession in that certain Chapter 11 case, Case No. 6:24-bk-11765-RB, pending in the United States Bankruptcy Court for the Central District of California. Bids must be received on or before the deadline of July 9 at 5:00 p.m. (PT) and must be submitted on the Letter of Intent (LOI) document available for review and download from Hilco Real Estate Sale's website.

Interested bidders should review the requirements in order to participate in the bankruptcy sale process available on Hilco Real Estate Sale's website. For further information, please contact Keith Worsham at (405) 514-0242 or [email protected], Jeff Azuse at (773) 456-5032 or [email protected], Jordan Schack at (843) 504-3297 or [email protected] and Daniel Miggins at (646) 984-4580 or [email protected].

For further information on the property, sale process, and terms or to obtain access to due diligence documents, please visit HilcoRealEstateSales.com or call (855) 755-2300.

About Hilco Real Estate Sales
Successfully positioning the real estate holdings within a company's portfolio is a material component of establishing and maintaining a strong financial foundation for long-term success. At Hilco Real Estate Sales (HRE), a Hilco Global company (HilcoGlobal.com), we advise and execute strategies to assist clients seeking to optimize their real estate assets, improve cash flow, maximize asset value and minimize liabilities and portfolio risk. We help clients traverse complex transactions and transitions, coordinating with internal and external networks and constituents to navigate ever-challenging market environments.

The trusted, full-service HRE team has secured billions in value for hundreds of clients over 20+ years. We are deeply experienced in complex transactions including artful lease renegotiation, multi-faceted sales structures, strategic asset management and capital optimization. We understand the legal, financial, and real estate components of the process, all of which are vital to a successful outcome. HRE can help identify the most viable options and direction for a company and its real estate portfolio, delivering impressive results in every situation.

SOURCE Hilco Real Estate