Giannoulias preps Abe Lincoln Hotel for sale

New bedding to go in all guest rooms

May 29, 2008

Illinois State Treasurer Alexi Giannoulias plans to spend approximately $270,000 on necessary improvements at the President Abraham Lincoln Hotel in Springfield before putting it on the auction block in the next several months.

”These are modest, necessary improvements that will hopefully make the property more attractive to potential buyers and provide the best hotel experience for guests,” Giannoulias said.

After gaining title to the hotel in March, Giannoulias worked with the hotel’s management team to compile a list of necessary improvements.

It will cost approximately $170,000 to replace all box springs, mattresses and pillows in 282 hotel rooms. The new bedding should arrive in July.

“By far, the most common complaint guests have about the hotel is that the mattresses are uncomfortable,” Giannoulias said. “Hotels need to provide guests with a good night’s sleep, so having decent mattresses is an essential improvement. It’s also an expenditure that will enhance the value of the hotel.”

Other major repairs made with the remaining $100,000 will include replacing an air conditioning unit, installing a new security camera system, updating computer systems, and fixing damaged floors and ceilings.

Giannoulias required that hotel officials solicit multiple bids for each project or purchase and accept the minimum price for each.

“The property has clearly been neglected for many years; it’s time we make a modest investment in this hotel,” Giannoulias said.

After Giannoulias installed a new management team, the hotel generated $1.2 million in profits. The state will invest part of that money to improve the condition of the property.