The Chicago Department of Aviation yesterday formally launched the request for proposals process to modernize and expand the Hilton Chicago O'Hare Hotel, as well as build a new 300- to 400-room hotel adjacent to the airport's international terminal. The city is hoping to lock in a bidder shortly, according to Crain's Chicago Business.

There is a reason why time is of the essence. The Aviation Department's bid documents show that Hilton's lease on the hotel, which is owned by the city, expires at the end of 2018. The city also plans on owning the new hotel. The Hilton O'Hare renovations would be carried out in stages, to ensure the hotel remains open. A 2019 groundbreaking on the new hotel is expected with a target delivery date of 2022.

The Aviation Department announced the hotel expansion and improvements last summer. That is in addition to a multibillion-dollar capital investment plan to modernize the airport itself in order to meet growing passenger demand. O'Hare would upgrade amenities and concessions, and add nine boarding points at the international terminal, dozens more at the centrally located Terminal 2, new concourses and additional space for TSA passenger screening. The RFP process opens on May 25.