Oxford to Reopen Four San Francisco Hotels
Acquired in 2019, shuttered in pandemic, hotels to be renamed.
A downtown San Francisco neighborhood that saw no new hotel openings in the first half of this year is about to get four of them—reopened hotels with new names, that is.
Chicago-based Oxford Capital Group, which bet big on San Francisco’s hotel industry when it acquired four hotels in the city for a total of $131M in 2019—and five more in 2020—is getting ready to see a return on its investment.
The four properties, three of which are in South of Market and one with a Nob Hill address, have been closed since the onset of the pandemic.
The company’s Oxford Hotels & Resorts subsidiary is preparing to rebrand and reopen the four hotels, which according to their websites are taking room bookings, the San Francisco Business Times reported. The properties are being renovated and repositioned as elevated lifestyle destinations.
The portfolio includes the 117-room Good Hotel at 112 Seventh Street in SoMa, which will reopen as the Hotel Garrett; the 143-room Americania Best Western at 121 Seventh Street, which will reopen as the SoMa House San Francisco; and the 48-room Carriage Inn Best Western at 140 Seventh Street, which will be renamed the Hotel Fiona.
The fourth hotel is Nob Hill’s 110-room Hotel Vertigo at 940 Sutter Street. No offense to Alfred Hitchcock, but the Hotel Vertigo will reopen as the Hotel Julian.
The four hotels are in proximity of a new 87K SF Ikea store at 945 Market Street, which features 27 furnished showrooms, two food-and-beverage shops—including a 68-seat sit-down Swedish deli—and about half the inventory of an Ikea big-box store.
The mall at 945 Market Street has been vacant since construction was completed in 2016. Ikea sister Ingka Centres acquired 945 Market Street for $198M in 2020.
Ingka Centres will open its first coworking franchise—to be known as Hej!Workshop—at 945 Market Street. The Ikea sister company will occupy 46K SF at the 250K SF mall.
After buying the four hotels that are reopening, Oxford Capital continued its acquisitions binge of discounted San Francisco-area hotels in 2020, buying five properties for a total of $126M, about 40% less than they were worth in 2019.
The 2020 haul included the 53-room King George Hotel at 334 Mason Street in Union Square; the 30-room Inn at Union Square; and Hotel Griffon, a 62-room lodging on the Embarcadero.