CHICAGO— Oxford Lodging Advisory & Investment Group, LLC has partnered on its third hotel acquisition in Chicago within the past year. This time, the firm has teamed up with Dubai Investment Group to purchase the Holiday Inn City Centre. Acting under the joint venture entity known as CCC Hotel Partners, LLC, Oxford and Dubai Investment Group will now turn the Holiday Inn into the Chicago City Centre Hotel & Sports Club and launch a property-wide design change that will involve guestrooms, public spaces, the sports club and spa, the indoor/outdoor pool, the hotel’s 17,000 square feet of meeting space and the addition of a three-meal restaurant. The hotel was acquired from the Teachers’ Retirement System of Illinois, which was represented by Stone-Levy, LLC in the transaction. Oxford affiliate, Kokua Hospitality, LLC, will now operate the 26-story, 495-room hotel, which joins the Allerton Crowne Plaza Chicago and Best Western Inn of Chicago in Oxford’s portfolio. Together, all three of Oxford’s Chicago assets consist of about 1,400 rooms and will be run without franchise affiliations.
