The Westin Book Cadillac hotel has a new owner and is expected to go under renovations in the next two years.
Oxford Capitol Group announced it has purchased the historic hotel in Downtown Detroit with its partner, Taconic Capital Advisors.
With the purchase, the company will renovate the guest rooms, public space, meeting rooms and ballrooms throughout the next two years. The hotel will remain open and operational during the renovations.
“The Book Cadillac is arguably Detroit’s most iconic hotel asset. We are excited to announce this acquisition and look forward to strategically upgrading and refreshing the property so that it remains a market leader in downtown Detroit as the city and the nation continue their post-COVID recovery trajectory,” Oxford Founder and CEO John W. Rutledge, said in a statement. “We worked closely with various city agencies on this complex transaction and are grateful for their support.”
