Peoria Courtyard Marriott Hotel

PEORIA - The Peoria Riverfront Museum wants to make sure that a historic mural stays in Peoria as the auction of the Marriott Pere Marquette and neighboring Courtyard by Marriott approaches next month.

Tanya Koonce / Peoria Public Radio

The Marriott Pere Marquette and Courtyard Hotels will have a new owner later this month. The historic hotel complex and its companion Courtyard entered foreclosure last month.

Bob Howard is the receiver of the property. He says the lead lender INDURE Build-to-Core is planning to purchase the hotels and parking deck in an auction March 19th.

 

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.

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.