Iowa company submits winning bid for Peoria hotel

PEORIA - A family-owned hospitality company that had “tiptoed around Peoria” is the winning bidder for the downtown Peoria property that was once the site of the Four Points by Sheraton hotel.

 Hawkeye Hotels, based in Burlington, Iowa, submitted the winning bid of $5.8 million and is in the process of closing on the property.

Raj Patel, the chief development officer for Hawkeye, said Monday night no details have been finalized for the former 319-room property, but it will house a “fully renovated, upper mid-scale branded hotel that will cater to Downtown and central Illinois.”

The company, founded in 1982, previously owned properties in Bloomington and Decatur, Patel said. It currently owns and operates “more than $400 million in assets across the Midwest,” according to its website, including hotels in Countryside, Carol Stream, Crestwood, Moline and Champaign. It has affiliations with brands such as Marriott, Hilton, InterContinental and Starwood.