Champaign's Fairfield Inn, Courtyard by Marriott hotels both on auction block
Mar. 1—CHAMPAIGN — Two hotels near Interstate 74 in Champaign are for sale, with auctions scheduled for each in May.
They include the Fairfield Inn & Suites by Marriott, 1807 Moreland Blvd., and Courtyard by Marriott next door at 1811 Moreland Blvd. They are situated between the Ashley furniture store and Sullivan-Parkhill auto dealership just north of I-74.
Champaign County tax records identify the owners of both properties as Fargo, N.D.-based TMI Hospitality, a business which merged in 2017 with Aimbridge Hospitality.
The starting bid on the 78-room Courtyard by Marriott is $2.2 million, and the starting bid for the 60-room Fairfield Inn & Suites is $1.8 million, according to the listing by Marcus & Millichap.
The three-story Courtyard was built in 1995, and the three-story Fairfield Inn was built in 1994, according to the bid information.
The sale is being handled via online auction May 1-3 through Tex-X Commercial.
Terri Reifsteck, vice president of marketing and community engagement at Visit Champaign County, said it's not unusual for hotels in the area to change owners.
The Courtyard and Fairfield Inn have been hotel partners with Visit Champaign County for some time, and — along with others in the vicinity off North Prospect Avenue — typically fill up for special events, she said.
The occupancy rate for Champaign County hotels in January — typically a slow month — improved in January, clocking in at 46.9 percent last month compared with 39.3 percent in January 2022, Reifsteck said.
In the most recent quarter for which the agency has complete data, October through December 2022, hotels in Champaign County were at 62.9 percent occupancy, with the average daily rate being about $112, she said.
