Article: Allerton Hotel sold; new owner will rehab

The Allerton Hotel was sold Friday to a Dallas-based company that said it would refurbish the 73-year-old property and take it upscale.

Bristol Hotel Co. said it paid $35 million to purchase the Allerton, 701 N. Michigan, from a partnership. All 105 employees will remain with the hotel after its renovation and conversion to the Chicago Crowne Plaza, said Bristol spokeswoman Helen Leflar.

She said no timetable has been set for the work. "It would be our preference not to have to close the hotel" to accomplish the work, Leflar said. "It may be that there's no way around it." Bristol owns and operates 38 hotels under such brand names as Days Inn, ...

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