CHICAGO—Oxford Capital Group, LLC announced the acquisition of the 247-room lifestyle hotel Thompson Chicago. Oxford Capital Group’s wholly-owned affiliate, Oxford Hotels & Resorts, LLC, also took over the management of the property. Thompson Chicago joins Oxford’s growing national 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 will remain affiliated with Hyatt’s luxury lifestyle hotel brand Thompson Hotels and initially opened its doors in 2013. It’s located near Michigan Avenue, Oak Street boutiques, and downtown’s dining and nightlife.
“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 CEO of Oxford Hotels & Resorts, LLC and its parent company 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 hotel management experience, which includes food and beverage offerings; revenue management, social media, direct sales, e-commerce, and marketing strategies; its ability to run profitable rooms, meeting, and event venues; effective recruiting, training, and retention methods; and cost control initiatives.
The ground floor restaurant Nico Osteria will be revamped, leveraging its 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 cocktail receptions. Three Thompson Loft Suites have private outdoor terraces. The property also features 12,000 square feet of meeting and event space and a spacious fitness center.
British designer Tara Bernerd & Partner’s approach to the rooms and common areas of Thompson Chicago is complemented by the building’s interior architecture and pays homage to the location with an emphasis on warmth and texture. It combines components like iron framework and timber beams balanced out with velvets, grey flannels, and leathers.