DENVER— Sage Hospitality Resources has expanded its portfolio with the acquisition of the Sheraton Arlington Heights in northwest Chicago. The property was purchased with an existing partner through a joint venture, reported Walter Isenberg, president/CEO of Sage. Plans for the newly acquired 440-room Sheraton Arlington Heights are still being finalized, Isenberg said. “We will spend significant dollars to renovate the property, which will remain a Sheraton,” he said. Sage currently has an ownership stake in two-thirds of the 50 properties in its portfolio. The others are third-party management contracts.
