Developer Gary Matthews

Peoria Pere and Courtyard Hotels In Foreclosure

Feb 14, 2018
Daryl Scott / Peoria Public Radio

  Pere Marquette and Courtyard Hotels in downtown Peoria are in foreclosure. The hotel properties were placed in receivership Wednesday by the emergency order of Judge Kate Gorman.

 

Efforts to refinance fell through Tuesday when the finance company Yam withdrew from negotiations. The hotel will eventually be sold at sheriff’s auction. That is a fairly standard practice in such foreclosures.

Pere Marquette Hotel Heads Toward Foreclosure

Feb 14, 2018
Robert Lawton / CC BY-SA 2.5 / Wikimedia Commons

Pere Marquette and Courtyard Hotels in downtown Peoria are in foreclosure. The hotel properties were placed in receivership Wednesday by the emergency order of Judge Kate Gorman.

 

Efforts to refinance fell through Tuesday when the finance company Yam withdrew from negotiations. The hotel will eventually be sold at Sheriff’s auction. That is a fairly standard practice in such foreclosures.

 

But Peoria City Manager Patrick Urich says the hotel will stay open and operate under receivership for now.

More Financial Redemption for Peoria Pere and Courtyard

Jan 10, 2018

Action by the Peoria City Council last night will help keep the Hotel Pere Marquette open. Hotel owner Gary Matthews is behind in paying his lenders, which includes the city of Peoria.

The council approved a special service area (SSA) allowing the hotel to charge an additional four-percent sales tax on room nights. The tax will raise approximately $400,000 a year to help the city pay for bonds it issued to help restore the hotel.

More Financial Redemption for Peoria Pere and Courtyard

Jan 10, 2018

Action by the Peoria City Council last night will help keep the Hotel Pere Marquette open. Hotel owner Gary Matthews is behind in paying his lenders, which includes the city of Peoria.

The council approved a special service area (SSA) allowing the hotel to charge an additional four-percent sales tax on room nights. The tax will raise approximately $400,000 a year to help the city pay for bonds it issued to help restore the hotel.

The Pere Marquette Hotel in downtown Peoria has a new manager. The hotel will maintain the Marriott flag, but First Hospitality Group of Chicago takes over as third party manager July 18, 2014. 

tripadvisor.com

A Peoria City Councilman is asking for more oversight in the downtown Marriott Hotel complex. Peoria Public Radio’s Tanya Koonce reports that comes as project developer Gary Matthews is facing as many as five lawsuits and foreclosures.

Marriott management reports to Matthews although he is asking his lenders’ permission to change to First Hospitality Group. 

Outside The Horseshoe - June 10, 2014

Jun 10, 2014
IBEW.org / Peoria Public Radio

  The Peoria City Council again deferred the Marriott Hotel management change question Tuesday, June 10, 2014. The city is in the secondary lender seat on the redevelopment project and is waiting on the primary lender to sign-off.  

Tanya Koonce / WCBU

  The historic and renovated Peoria Marriott Pere Marquette hotel opened at 3:00. The hotel staff presses a button at that time, and Peoria’s so-called Grand Lady becomes part of Marriott’s world wide hotel and conference centers.