Oxford Capital Group, LLC today announced the acquisition of the 247-room, luxury lifestyle hotel Thompson Chicago, located in the prestigious Gold Coast neighborhood. Oxford Capital Group’s wholly owned affiliate, Oxford Hotels & Resorts, LLC, also takes over management of the property as of today. Thompson Chicago joins Oxford’s growing national lifestyle hotel portfolio, which includes Godfrey Hotels in Chicago, Boston, Tampa, and Hollywood (with several additional locations in the pipeline); LondonHouse; Hotel Julian; Le Méridien Essex Chicago; Hotel Griffon; Hotel Vertigo; and others.
Thompson Chicago, which will remain affiliated with Hyatt’s luxury lifestyle hotel brand, Thompson Hotels, initially opened its doors in 2013. It’s located at 21 East Bellevue Place and Rush Street, just a few steps from Michigan Avenue, Oak Street boutiques and downtown’s finest dining and nightlife destinations.
“We felt this was a compelling opportunity to acquire a great asset in an excellent location and at an attractive price,” says John W. Rutledge, Founder, Chairman, and Chief Executive Officer of Oxford Hotels & Resorts, LLC and its parent company, Chicago-based Oxford Capital Group, LLC. “We believe the timing of this transaction coinciding with Chicago’s post-pandemic recovery progress is auspicious. We are also sanguine that our national experience, as well as our longstanding history in Chicago and its various submarkets, will position Oxford and its investors for a successful outcome.”
“We are excited to have negotiated this transaction at the precipice of what we hope will be a multi-year recovery in the lodging market,” says Sarang Peruri, Chief Operating Officer of Oxford Capital Group, LLC and Partner of Oxford Hotels & Resorts, LLC. “Thompson Chicago, with its highly visible location at the corner of Bellevue and Rush and impressive physical product, is a perfect complement to our local and national portfolio of luxury lifestyle hotels.”
Thompson Chicago will be Oxford’s 25th lifestyle hotel transaction and 15th hotel project in Chicago. The property will benefit from Oxford’s extensive national luxury lifestyle hotel management experience. This includes robust food and beverage offerings; sophisticated revenue management, social media, direct sales, e-commerce, and marketing strategies; its proven ability to run highly profitable rooms and meeting and event venues; highly effective recruiting, training and retention methods; and creative cost control initiatives.
The ground floor full-service restaurant Nico Osteria will be revamped, leveraging its extensive wraparound outdoor sidewalk terrace seating and floor-to-ceiling operable windows. Private dining rooms with reception areas, as well as six two-level Thompson Loft Suites are available to host special events, meetings and intimate cocktail receptions. Three Thompson Loft Suites feature private outdoor terraces, offering stunning city and lake views. The property also features 12,000 square feet of meeting and event space with views of the Chicago skyline and Lake Michigan, and a spacious fitness center.
