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Manga Hotel Group buys 261-room Royal Sonesta Chicago River North

The property, at 505 North State Street, will be rebranded as Hotel 505 River North and positioned for a subsequent TOOR Hotel development.

Reported · Written up by our desk · Industry

ConnectCRE reports that Manga Hotel Group acquired the Royal Sonesta Chicago River North, a 261-room hotel in Chicago, Illinois.

The outlet says the hotel has been rebranded as Hotel 505 River North, and that the site is slated to become the location of another TOOR Hotel.

According to ConnectCRE, the acquisition is located at 505 North State Street in downtown Chicago, where it is surrounded by dining, entertainment, shopping, and cultural attractions, with access to the Magnificent Mile.

ConnectCRE adds that the deal expands Manga’s U.S. portfolio after acquisitions in New York City, including the SoHo 54 Hotel and The Chelsean New York Hotel, and marks the company’s entry into the Chicago market.

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