by Michael J. Shapiro | April 10, 2019
Oxford Capital Group has acquired four downtown San Francisco hotels and plans to renovate and reposition each. The company's wholly owned affiliate, Oxford Hotels & Resorts, takes over management of the four properties today. Oxford, which specializes in lifestyle boutique properties, has a portfolio that includes Godfrey Hotels in Boston, Chicago, Los Angeles and Tampa, Florida, as well as Chicago's LondonHouse, the Hotel Julian, the Hotel Essex and the Hotel Felix. Oxford purchased the properties from Haiyi Hotels, which appears to have shut down its website.
The newly acquired San Francisco properties include the 110-room Hotel Vertigo, built in 1925 and located in lower Nob Hill, as well as three hotels South of Market on 7th Street: the 117-room Good Hotel, built in 1911; the 143-room Americania Hotel, built in 1967; and the 48-room Carriage Inn, built in 1980.
 
The Mid-Market neighborhood around 7th Street has been changing in recent years, growing gradually more vibrant as downtown demand has spurred revitalization of the area. "This is a compelling time to be buying these hotels," noted Sarang Peruri, principal at Oxford Capital Group, "amidst increasing hotel demand created by the reopening of the renovated and expanded Moscone Center, the continued influx of new Class A office and residential buildings, and record-breaking leisure visitation to downtown San Francisco. The properties are centrally located, with large guest rooms and good 'bones,' allowing for an attractive canvas to create distinctive guest rooms and public areas." 
 
Oxford has not yet revealed any details or timelines with respect to the property renovations and likely rebranding. Nor have they disclosed the terms of the sale. But in a city with intensely high hotel demand, particularly during large conventions, the acquisition represents a potentially well-timed maneuver to establish a Northern California footprint.
 
"We are excited to have found such an enticing opportunity in downtown San Francisco, and to continue to grow our presence on the West Coast," said John W. Rutledge, founder, president and CEO of Oxford Capital Group and Oxford Hotels & Resorts. "San Francisco, with its high barriers to entry and its multidimensional demand profile, has always been one of the most dynamic and attractive hotel investment markets in the country. We are excited to invest in updating the city's hotel offerings."