David Neff Comments on the Troubled O'Hare Airport Lodging Market

The Chicago O'Hare Airport area may be the most distressed lodging markets in the U.S. according to Smith Travel Research. Perkins Coie David Neff represents one of the area's troubled properties, InterContinental Chicago O'Hare, who filed for bankruptcy last August. The lenders have allowed the property to continue operating, Neff commented on the bankruptcy in a recent article published by Lodging Hospitality, and while no deals are imminent, "a number of entities have signed confidentiality agreements and are conducting due diligence on the property." The property is doing relatively well, he added, it is gaining market share and getting high guest satisfaction ratings.