The Hilton Orrington Hotel.
Reopening of the Hilton Orrington hotel in downtown Evanston, which was scheduled for today has been delayed, and there are now questions about the long-term ownership and operation of the property.
Like all hotels and motels, the 259-bed Orrington has been devastated by the coronavirus pandemic, due to the near-evaporation of business and leisure travel. The Orrington closed temporarily after Thanksgiving, with the reopening set for today.
However, a front desk representative tells “Evanston Now” the reopening has been pushed back to April, or perhaps late March. No specific date was given.
But there are now even larger questions about the Orrington’s future. According to financial analysts at Fitch Ratings’ CMBS group, the hotel’s income is not enough to pay the mortgage. “Current property-level cash flow is insufficient to cover the monthly mortgage payment,” the Fitch analysts say, “and the borrower is n
Obligo Announces 2020 Most Trusted Property Management Companies
Fintech company Obligo celebrates property management companies who achieved positive renter sentiment at move-out
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NEW YORK, Dec. 22, 2020 /PRNewswire/ Fintech company Obligo today announced the recipients of its inaugural 2020 Renter s Trust Awards. Obligo facilitates a trusted relationship between landlords and renters using Open Banking technology and AI, ridding both parties from the burden of security deposits. As Obligo reconciles the balance owed at move-out, it also asks renters to record their sentiment for each security deposit deduction. This data point was selected as the primary award criteria because it best represents the level of trust between property owners and renters.