ST. CHARLES – Another prominent property on St. Charles’ east side has new ownership.
Pheasant Run Resort and Spa, 4051 E. Main St., was sold Tuesday to Saint Charles Resort LLC, a collaborative group of experienced hotel investors and operators, according to a press release.
The 250-acre resort had been in foreclosure since 2011.
The release indicated that Hostmark Hospitality Group will manage the property and oversee a $5 million capital improvement project designed to rejuvenate the resort.
“This is an exceptional opportunity for our team to build upon the 50-year legacy of this property, revitalizing the resort’s impact on the surrounding community, its commerce, and employment opportunities,” Jerome F. Cataldo, president and CEO of Hostmark Hospitality Group, said in a written statement.
“We look forward to polishing the entire resort for a grand reintroduction to guests – past, present and future.”
Terms of the deal were not disclosed.
The sale of Pheasant Run came about four months after nearby Charlestowne Mall, 3800 E. Main St., officially changed hands.
“This purchase, the activity that’s taking place at the mall, the new road, new businesses popping up here and there, all bode well for a nice revival,” Mayor Ray Rogina said.
Amy Egolf, executive director of the Greater St. Charles Convention and Visitors Bureau, echoed the mayor’s excitement. She described the sale as great news for the resort and hotel community as a whole.
She noted Hostmark Hospitality has a significant portfolio.
Headquartered in Schaumburg, Hostmark Hospitality Group operates upscale full service hotels, independent boutique hotels, luxury resorts, select service hotels, attractions and concept restaurants worldwide.
“Their expertise and vision, I’m sure, will be a wonderful boon,” Egolf said.
Rogina said he hasn’t yet met the resort’s new owners but is looking forward to meeting them and seeing what their ideas are.
“This resort has been a staple and landmark and brought many visitors to the community,” Rogina said. “The opportunity for it to move forward with this new group … is wonderful.”
In a phone interview, Cataldo said the acquisition of Charlestowne Mall and the reconstruction of East Main Street contributed to Hostmark Hospitality’s decision to become involved with Pheasant Run. Cataldo said that in addition to developing a long-term strategy for the resort, there are short-term goals to improve the physical quality of the property.
“We’ve already initiated some of the design process,” he said. “I think people will begin to see changes within several months at the property.”
According to the release, improvements planned for Pheasant Run include upgraded infrastructure and fresh looks for building exteriors, public spaces, guest rooms and baths.
The resort’s existing features include a golf course, two restaurants, two pool bars, a theater, three lounges, three pools, a comedy club, an expo center and 42 meeting rooms.
“Clearly the property will continue to appeal to targeted audiences for expos and shows but also meetings and associations,” Cataldo said.
Pheasant Run was founded by Edward McArdle in 1963. Egolf said the McArdle family was instrumental in forming the Greater St. Charles Convention and Visitors Bureau.
“Obviously, they’re very important to us, always have been,” she said of Pheasant Run.