Youth hostel company Selina to open on Chicago's Gold Coast
July 26, 2021
Chicago Business Journal
By: Ben Miller
Selina, a provider of youth hostels, said it plans on opening a location at 100 East Chestnut Street in Chicago, near the site of the former Mike Ditka's restaurant and at the site of the existing Tremont Hotel.
London-based Selina said it plans to open a 600-bed property near the site of the former restaurant on Chicago's Gold Coast. Mike Ditka's closed last year after 23 years of operation, citing the effects of Covid-19, after years of serving steaks and hearty fare to residents and celebrities.
Now Selina, the London-based brand that said it targets millennial and Gen Z travelers, said it's moving onto the block, into the site of the Tremont Hotel.
The company said it operates 116 properties in 20 countries and the Chicago Selina opening will be one of five new properties, all containing about 2,000 beds, that it plans on opening by the end of the third quarter of 2021. The other properties will be located in D.C., Guadalajara, Jerusalem and Paros, Greece.
“Continuing to build our footprint in urban cities represents a compelling growth opportunity for Selina as the vast majority of hotels in these markets don’t address the wants and needs of our target audience. ... Opening these new locations will introduce Selina’s strong value proposition to thousands of potential customers and help grow our community of local talent and creators who spread our brand around the world," said Rafael Museri, Selina’s co-founder and CEO, in a statement.
Hotel Capital LLC, an Indianapolis private equity real estate investment firm, bought the Tremont Hotel and Ditka's in June 2018 from Marriott International Inc. A request for comment from Hotel Capital wasn't returned.