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**Pebblebrook Hotel Trust Sells Westin Michigan Avenue Chicago for $72 Million**
Pebblebrook Hotel Trust has finalized the sale of the Westin Michigan Avenue Chicago, a 752-room hotel located in the heart of Chicago, Illinois, for $72 million.
Local hotel investor Ketu Amin is the buyer behind one of the city’s largest hotels. The acquisition marks a major transaction within the Chicago hospitality market, despite the sale price falling significantly below the property’s pre-pandemic valuation. Still, it stands as one of the more substantial hotel investments in Chicago in recent years.
The deal includes a $54 million loan arranged by Mark Perkowski, Senior Vice President at Draper and Kramer’s Commercial Finance Group. The loan was secured on behalf of Vinayaka Hospitality, which Amin is affiliated with, and funded by a life insurance company sourced by Perkowski. The hotel is located at 909 North Michigan Avenue.
The sale comes at a time when Chicago is experiencing a notable resurgence in hotel demand. According to Choose Chicago, the city’s tourism organization, hotels in the Central Business District saw over 3.56 million room nights booked during the summer of 2025—a new record for seasonal occupancy.
The Westin’s sale signals growing investor confidence in Chicago’s hotel market and reflects the broader trend of revitalization within the city’s hospitality sector.
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