Oxford Capital Group Acquires Five Boutique Hotels in Downtown San Francisco, Silicon Valley
SAN FRANCISCO, PALO ALTO AND LOS GATOS, CALIF. — Oxford Capital Group LLC has acquired five boutique hotels in San Francisco and Silicon Valley from Greystone Hotels for an undisclosed price. The company plans to reposition many of the assets.
The properties include King George Hotel, Hotel Griffon and The Inn at Union Square in San Francisco, as well as Creekside Inn in Palo Alto and Hotel Los Gatos in Los Gatos.
Dating back to 1914, the 53-room King George Hotel includes a lobby bar and 1,150 square feet of meeting space. Hotel Griffon, which opened in 1906, includes 62 rooms as well as 308 square feet of meeting space and Perry’s restaurant. The Inn at Union Square, which features 30 rooms, opened in 1980 and includes Chloe Gallery.
Creekside Inn dates back to 1955. It features 136 rooms, 1,400 square feet of meeting space, CIBO restaurant, Driftwood Deli and a Metro PCS store. Opened in 2002, the 72-room Hotel Los Gatos features 2,000 square feet of meeting space, Dio Deka restaurant and a Verde Touch holistic massage center.
“We have been value-oriented investors in the lodging sector for nearly 30 years,” says John Rutledge, founder, chairman and CEO of Chicago-based Oxford. “This is a compelling portfolio of assets in strong locations and submarkets, conservatively leveraged, that we were able to secure at a particularly attractive basis.”
Sarang Peruri, chief operating officer, says Oxford is optimistic about the post-pandemic recovery potential of the San Francisco Bay Area lodging market. “These properties are poised to outperform, given the unique product offerings and locations with historically attractive business, leisure and group demand.”
Oxford’s wholly owned affiliate, Chicago-based Oxford Hotels & Resorts LLC, will take over management of the properties effective immediately. The five hotels bring Oxford’s Bay Area footprint to nine properties. Nationwide, Oxford owns lifestyle hotels under the Godfrey, LondonHouse, Julian, Essex, Felix, Audrey, Cass and Versey brands.
— Kristin Hiller