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'{{POV|date=September 2017}} '''Adventurous Journeys Capital Partners''' ('''AJ Capital Partners''') is a private real estate company based in [[Chicago]] that owns and operates lodging accommodations.<ref name=Lodging15>{{cite news |title=How AJ Capital is Developing a Unique Value Proposition |first=Evan |last=Grossman |date=June 8, 2015 |work=Lodging |url=http://lodgingmagazine.com/how-aj-capital-is-developing-a-unique-value-proposition/}}</ref><ref name=ForbesJan16>{{cite news |title=The revivalist: A young hotelier with an eye for an aged luxury gem |first=Adam |last=Brown |date=January 4, 2016 |work=Forbes |url=https://www.forbes.com/sites/abrambrown/2016/01/04/the-revivalist-a-young-hotelier-with-an-eye-for-an-aged-luxury-gem/#7edf0f4056c5 }}</ref><ref name=ChiBusOct15>{{cite news |title=Ben Weprin is behind some of Chicago's most stylish hotels. Here's his latest obsession. |first=Alby |last=Gallun |date=October 24, 2015 |work=Chicago Business |url=http://www.chicagobusiness.com/article/20151024/ISSUE01/310249991/ben-weprin-is-behind-some-of-chicagos-most-stylish-hotels-heres-his-latest-obsession }}</ref> AJ Capital Partners was founded by [[Ben Weprin]],<ref name=HospDesignMag>{{cite news |title=New Icons |date=November 2016 |work=Hospitality Design Magazine}}</ref> the current CEO, in 2008.<ref name=ForbesJan16 /><ref name=ChiBusOct15 /> Its strategy is to build a portfolio of hotels and resorts, most notably, the company's in-house brand, Graduate Hotels, a collection of boutique design-driven hotels in university-anchored markets across the US.<ref name=LuxuryDailyAug13>{{cite news |title=LVMH acquires Hotel Saint-Barth, expands reach |first=Joe |last=McCarthy |date=August 1, 2013 |work=Luxury Daily |url=https://www.luxurydaily.com/lvmh-acquires-more-latitude-with-hotel-saint-barth/ }}</ref> Other projects have included restorations of existing hotels and development of new properties, several located in Chicago, such as Chicago Athletic Association, [[Soho House (club)|Soho House]] Chicago, Thompson Chicago and Hotel Lincoln, as well as Thompson Nashville in Nashville; [[Pontchartrain Hotel]]<ref name="HotelMgt16">{{cite news|url=http://www.hotelmanagement.net/openings/aj-capital-partners-opens-pontchartrain-hotel|title=AJ Capital Partners opens the Pontchartrain Hotel|date=June 17, 2016|work=Hotel Management}}</ref> in New Orleans; and [[Fixer Upper (TV series)|Chip and Joanna Gaines]]' forthcoming boutique hotel<ref>{{Cite web|url=https://magnolia.com/our-next-project/|title=Our Next Project|date=2019-10-03|website=Magnolia|language=en-US|access-date=2019-10-04}}</ref> in Waco, Texas, opening in 2021.<ref name=Lodging15/><ref name=REJournalsAug13>{{cite news |title=Shorenstein invests in Chicago mixed use redevelopment venture |date=August 21, 2013 |work=REJournals.com |url=http://www.rejournals.com/2013/08/21/shorenstein-invests-in-chicago-mixed-use-redevelopment-venture/ |access-date=September 14, 2016 |archive-url=https://web.archive.org/web/20140816035059/http://www.rejournals.com/2013/08/21/shorenstein-invests-in-chicago-mixed-use-redevelopment-venture/ |archive-date=August 16, 2014 |url-status=dead |df=mdy-all }}</ref> <ref name=ChiBusJuly15>{{cite news |title=In hot hotel market will Thompson Chicago sell for record price? |first=Alby |last=Gallun |date=July 28, 2015 |work=Chicago Business |url=http://www.chicagobusiness.com/realestate/20150728/CRED03/150729819/in-hot-hotel-market-will-thompson-chicago-sell-for-record-price }}</ref><ref name=WSJ16>{{cite news |title=Hotelier Ben Weprin on the Best Rooms and Old Jeeps |first=Kate |last=Betts |date=April 14, 2016 |work=The Wall Street Journal |url=https://www.wsj.com/articles/hotelier-ben-weprin-on-the-best-rooms-and-old-jeeps-1460487462}}</ref><ref name=TravelPulse15>{{cite news |title=Chicago Athletic Association reopens as luxury boutique hotel |first=Ryan |last=Rudnansky |date=May 29, 2015 |work=Travel Pulse |url=http://www.travelpulse.com/news/hotels-and-resorts/chicago-athletic-association-reopens-as-luxury-boutique-hotel.html }}</ref><ref name=Lodging15/><ref name=ForbesJan16 /> It also owns or has owned or invested in historic hotels and resorts, Isle de France in St. Barth and Malliouhana, part of [[Auberge Resorts]], in Anguilla, with several locations, primarily in the U.S.<ref name=ForbesJan16 /><ref name=LodgingMag13>{{cite news |title=Investor group acquires Napa Valley's Calistoga Ranch |date=November 18, 2013 |work=Lodging Magazine |url=http://lodgingmagazine.com/investor-group-acquires-napa-valleys-calistoga-ranch// }}</ref><ref name=NOLA16>{{cite news |title=Caribbean Room, Bayou Bar reopens at Pontchartrain Hotel on June 17 |first=Ann |last=Maloney |date=June 14, 2016 |work=The Times-Picayune |url=http://www.nola.com/dining/index.ssf/2016/06/pontchartrain_hotel_reopens_ca.html}}</ref> AJ Capital Partners launched the Graduate Hotels in 2014. Graduate Hotels is a hand-crafted collection of hotels that reside in dynamic university-anchored towns across the country.  Each hotel pays homage to the heritage of its unique town through cultural nods to the local community.<ref>{{Cite news|url=https://www.cnbc.com/2018/02/16/graduate-hotels-ben-weprin-rivals-hotel-giants-in-college-towns.html|title=A college town hotel chain that is the anti-Airbnb|last=Hochman|first=David|date=2018-02-16|work=CNBC|access-date=2018-03-23}}</ref> There are currently 21 open and operating hotels across the U.S. and an additional 12 hotels under development, slated to open by the end of 2020. In the first quarter of 2017, the brand announced a partnership with [[Cornell University]] to open a location on [[Roosevelt Island, New York]] in 2020.<ref name="RealEstateWeekly">{{cite news|url=http://rew-online.com/2017/03/14/cornell-university-aj-capital-to-open-196-room-hotel-in-roosevelt-island/|title=Cornell University, AJ Capital to open 196-room hotel in Roosevelt Island|date=March 14, 2017|work=Christian Brazil Bautista}}</ref><ref name="TownandCountry">{{cite news|url=http://www.townandcountrymag.com/leisure/travel-guide/a10284925/graduate-hotels-college-towns/|title=Ben Weprin's Graduate Hotels Will Make You Feel Team Spirit All Over Again|date=July 21, 2017|work=Town & Country}}</ref><ref name="Departures">{{cite news|url=https://www.departures.com/travel/hotels/graduate-hotels-college-towns|title=Graduate Hotels: Elevating the College Experience|date=August 16, 2017|work=Departures}}</ref> Current hotels are located in Annapolis, Maryland; [[Ann Arbor, Michigan]];<ref name="ChiTribune2017">{{cite news|url=http://www.chicagotribune.com/lifestyles/travel/ct-graduate-hotels-college-travel-1030-20161013-story.html|title=Upgrade a campus visit to Ann Arbor, Madison with Graduate Hotels|last=Guthmann|first=Andrea|date=October 13, 2016|work=Chicago Tribune}}</ref> [[Athens, Georgia]]; [[Berkeley, California]];<ref name="SFChronicle2017">{{cite news|url=http://www.sfchronicle.com/business/networth/article/After-renovation-Berkeley-s-Hotel-Durant-keeps-11021092.php|title=After renovation, Berkeley hotel keeps its quriky charm|last=Pender|first=Kathleen|date=March 22, 2017|work=San Francisco Chronicle}}</ref> [[Bloomington, Indiana]]; [[Charlottesville, Virginia]]; [[Columbia, South Carolina|Columbia, South Carolina;]] [[Columbus, Ohio]];<ref name="LodgingMagazine">{{cite news|url=http://lodgingmagazine.com/graduate-hotel-coming-to-columbus-ohio-in-2019/|title=Graduate Hotel coming to Columbus, Ohio, in 2019|date=September 19, 2017|work=Lodging Staff}}</ref> [[Eugene, Oregon]]; [[Fayetteville, Arkansas]]; [[Iowa City, Iowa]]; [[Lincoln, Nebraska]]; [[Madison, Wisconsin]]; [[Minneapolis|Minneapolis, Minnesota]]; [[New Haven, Connecticut]];<ref name="NewHavenRegister">{{cite news|url=http://www.nhregister.com/business/article/New-Haven-s-storied-Duncan-Hotel-sold-and-will-12196095.php|title=New Haven's storied Duncan Hotel sold and will undergo renovation|date=September 14, 2017|work=Mary O'Leary}}</ref> [[Oxford, Mississippi]]; [[Providence, Rhode Island|Providence, Rhode Island;]] [[Richmond, Virginia]]; [[Seattle|Seattle, Washington]]; [[State College, Pennsylvania]]; [[Tempe, Arizona]].<ref name="ForbesJan16" /><ref name="FastCo14">{{cite news|url=https://www.fastcompany.com/most-innovative-companies/2016|title=Most Innovative Companies 2016|date=February 16, 2016|work=Fast Company}}</ref><ref name="WSJ14">{{cite news |title=Hotel Chain Gives It the Old College Try |first=Craig |last=Karmin |date=August 26, 2014 |work=Wall Street Journal |url=https://www.wsj.com/articles/hotel-chain-gives-it-the-old-college-try-1409083022 }}</ref><ref name="NYTimes15">{{cite news |title=Hotel and Tour News: Musical Resort Packages in Florida and Cape Town |first=Shivani |last=Vora |date=September 22, 2015 |work=New York Times |url=https://www.nytimes.com/2015/09/22/travel/hotel-and-tour-news-musical-resort-packages-in-florida-and-cape-town.html?_r=0}}</ref><ref name="AFAR16">{{cite news |title=These Hotels Tell the Stories of the Cities Around Them |first=Jenn |last=Flowers |date=October 31, 2016 |work=AFAR |url=http://www.afar.com/magazine/these-hotels-tell-the-stories-of-the-cities-around-them}}</ref> In 2020, Graduate Hotels plans to open their first international property in [[Cambridge|Cambridge, England.]]<ref>{{Cite web|url=https://www.hospitalitynet.org/announcement/41003341/graduate-cambridge.html|title=AJ Capital Partners Plans to Debut Graduate Cambridge as First International Graduate Hotels Property|last=Net|first=Hospitality|website=Hospitality Net|language=en-us|access-date=2019-10-04}}</ref> == History == In 2012, AJ Capital Partners collaborated with Soho House Group to transform a vacant rubber belt factory located in Chicago's West Loop into a Soho House, an urban, members only club and hotel, which opened in 2014.<ref name="Lodging15" /><ref name="ForbesJan16" /><ref name="ChiBusJuly13">{{cite news|url=http://www.chicagobusiness.com/realestate/20130726/CRED03/130729843/soho-house-hotel-developers-plan-office-conversion-nearby|title=Soho House Hotel developers plan office conversion nearby|last=Ori|first=Ryan|date=July 26, 2013|work=Chicago Business}}</ref> In 2015, AJ Capital Partners were the developers in restoring the 130-year-old Chicago Athletic Association into a public hotel. Weprin's investment partner for the $150 million project included financier [[John Pritzker]].<ref name="TravelPulse15" /> The company also owned the Hotel Lincoln in Chicago, which was sold to Jordache Enterprises for a reported $70 million in 2016.<ref name="Lodging15" /><ref name="ChiRealEstateDaily">{{cite news|url=http://www.chicagobusiness.com/realestate/20160203/CRED03/160209938/hotel-lincoln-fetches-more-than-70-million-as-hot-hotel-market-cools|title=Hotel Lincoln fetches more than $70 million as hot hotel market cools|last=Gullen|first=Alby|date=February 3, 2016|work=Chicago Real Estate Daily}}</ref> In 2016, AJ Capital Partners added [[Cooper Manning]], who has his own show on [[Fox Sports]], is the son of former [[National Football League]] quarterback [[Archie Manning]] and brother of [[New York Giants]] quarterback [[Eli Manning]] and former NFL quarterback [[Peyton Manning]], was named senior managing director—investor relations.<ref name="ChiREDaily16">{{cite news|url=http://www.chicagobusiness.com/realestate/20160606/CRED03/306069998/aj-capital-executive-named-president-of-graduate-hotels|title=AJ Capital executive named president of Graduate Hotels|last=Davis|first=Katherine|date=June 6, 2016|work=Chicago Real Estate Daily}}</ref><ref name="HotelOnline16">{{cite news|url=https://www.hotel-online.com/press_releases/release/cooper-manning-joins-aj-capital-partners-as-senior-managing-director|title=Cooper Manning joins AJ Capital Partners as senior managing director|date=March 31, 2016|work=Hotel Online}}</ref><ref name="HotelMgtJune2016">{{cite news|url=http://www.hotelmanagement.net/openings/aj-capital-partners-opens-pontchartrain-hotel|title=AJ Capital Partners opens Pontchartrain Hotel|date=June 17, 2016|work=Hotel Management}}</ref><ref name="TimesPicayune16">{{cite news|url=http://www.nola.com/dining/index.ssf/2016/06/pontchartrain_hotel_reopens_ca.html|title=Caribbean Room, Bayou Bar reopens at Pontchartrain Hotel June 17|last=Maloney|first=Ann|date=June 14, 2016|work=Times-Picayune}}</ref><ref name="TimesPicayuneJuly16">{{cite news|url=http://www.nola.com/dining/index.ssf/2016/07/take_a_360-degree_tour_of_the.html|title=Take a 360 degree tour of the Pontchartrain Hotel|last=Price|first=Todd|date=July 1, 2016|work=Times-Picayune}}</ref> In 2018, an AJ Capital Partners affiliate bought the [[San Francisco Armory]] for $65 million, with plans to use parts of it as office space and lease the rest to manufacturing companies.<ref name=":0">{{Cite news|url=https://www.sfchronicle.com/bayarea/article/SF-Armory-sells-for-65-million-to-be-used-12560076.php|title=SF Armory sells for $65 million — to be used for manufacturing and offices|last=Dineen|first=J.K.|date=2017-02-07|work=San Francisco Chronicle|access-date=2018-02-09}}</ref> In January 2018, it was announced that AJ Capital would redevelop the site of the former May Hosiery mill in [[Nashville, Tennessee|Nashville’s]] Wedgewood Houston neighborhood. The adaptive re-use of May Hosiery, the oldest sock mill in the South dating back to 1908, offers 180,000 square feet and will feature a prominent mix of creative commercial and retail tenants.<ref>{{Cite web|url=https://rebusinessonline.com/hff-arranges-26-7m-construction-loan-for-adaptive-reuse-project-in-nashville/|title=HFF Arranges $26.7M Construction Loan for Adaptive Reuse Project in Nashville – REBusinessOnline|last=Skelton|first=Camren|language=en-US|access-date=2019-10-22}}</ref> In November 2019, [[LeBron James|LeBron James Family Foundation]] (LJFF) and Graduate Hotels announced plans for the “I PROMISE Village by Graduate Hotels” that will serve as transitional housing for I PROMISE families<ref>{{Cite web|url=https://www.usatoday.com/story/sports/nba/lakers/2019/11/04/lebron-james-i-promise-village-graduate-hotels/4150420002/|title=LeBron James expands I Promise School project, includes transitional housing for at-risk students|last=Zillgitt|first=Jeff|website=USA TODAY|language=en-US|access-date=2019-11-04}}</ref><ref>{{Cite web|url=https://www.wkyc.com/article/sports/nba/lebron-james/lebron-james-announces-i-promise-village-as-housing-for-akron-students-families-in-need/95-27b5793b-eb9d-43b7-82c1-585b666d3008|title=LeBron James announces ‘I PROMISE Village’ as housing for Akron students, families in need|website=WKYC|access-date=2019-11-04}}</ref>. Located within a few blocks of the [[I Promise School|I PROMISE School]], the building will be renovated and furnished to include individual living units for students and their families who need a safe, comforting place to stay as they work through challenges they may be facing including homelessness, domestic violence, and other unforeseen circumstances. The I PROMISE Village by Graduate Hotels will be fully operational by the start of the [[I Promise School|I PROMISE School’]]<nowiki/>s next school year in July 2020.<ref>{{Cite web|url=https://fox8.com/2019/11/04/i-promise-village-lebron-james-family-foundation-to-offer-transitional-housing-for-students-and-families/|title=I Promise Village: LeBron James Family Foundation to offer transitional housing for students and families|date=2019-11-04|website=fox8.com|language=en|access-date=2019-11-04}}</ref> ==Awards== *[[The New York Times]] The Education of a Brotelier - Graduate Hotels<ref>{{Cite news|url=https://www.nytimes.com/2018/07/14/business/the-education-of-a-brotelier.html|title=The Education of a Brotelier|access-date=2018-08-06|language=en}}</ref> *[[Inc. (magazine)]] 2017 Design Awards, Best Interior Design - Graduate Hotels<ref name="Inc17">{{cite news |title=This College-Town Hotel Chain is Putting Airbandb on Notice |first=Margaret |last=Rhodes |date=May 17, 2017 |work=Inc. Magazine |url=https://www.inc.com/magazine/201706/margaret-rhodes/graduate-hotels-design-awards-2017.html}}</ref> * [[Fast Company (magazine)|Fast Company]] The Most Innovative Companies of 2016 – AJ Capital Partners<ref name="FastCo16">{{cite news|url=https://www.fastcompany.com/most-innovative-companies/2016|title=Most Innovative Companies of 2016|date=February 16, 2016|work=Fast Company}}</ref> * [[Urban Land Institute]] Chicago's Catalytic Redevelopment – Chicago Athletic Association<ref name=REJournals>{{cite news |title=Twelve projects and programs, 1 young visionary named winners of ULI Chicago's 2016 Vision Awards |date=June 3, 2016 |work=REJournals.com |url=http://www.rejournals.com/2016/06/03/twelve-projects-and-programs-1-young-visionary-named-winners-of-uli-chicagos-2016-vision-awards/ |access-date=March 22, 2017 |archive-url=https://web.archive.org/web/20161103234721/http://www.rejournals.com/2016/06/03/twelve-projects-and-programs-1-young-visionary-named-winners-of-uli-chicagos-2016-vision-awards/ |archive-date=November 3, 2016 |url-status=dead |df=mdy-all }}</ref> * Urban Land Institute Chicago's Catalytic Redevelopment – Soho House Chicago<ref name=REJournals>{{cite news |title=Twelve projects and programs, 1 young visionary named winners of ULI Chicago's 2016 Vision Awards |date=June 3, 2016 |work=REJournals.com |url=http://www.rejournals.com/2016/06/03/twelve-projects-and-programs-1-young-visionary-named-winners-of-uli-chicagos-2016-vision-awards/ |access-date=March 22, 2017 |archive-url=https://web.archive.org/web/20161103234721/http://www.rejournals.com/2016/06/03/twelve-projects-and-programs-1-young-visionary-named-winners-of-uli-chicagos-2016-vision-awards/ |archive-date=November 3, 2016 |url-status=dead |df=mdy-all }}</ref> * [[James Beard Foundation]] Outstanding Restaurant Design Finalist – Cherry Circle Room – Chicago Athletic Association<ref name=AD2016>{{cite news |title=Take a Look Inside the 2016 James Beard Award Nominees for Restaurant Design |first=Brian |last=Stone |date=April 1, 2016 |work=Architectural Digest |url=http://www.architecturaldigest.com/gallery/2016-james-beard-award-nominees-for-restaurant-design}}</ref> * James Beard Foundation Outstanding Restaurant Design Finalist – Cindy's – Chicago Athletic Association<ref name=AD2016>{{cite news |title=Take a Look Inside the 2016 James Beard Award Nominees for Restaurant Design |first=Brian |last=Stone |date=April 1, 2016 |work=Architectural Digest |url=http://www.architecturaldigest.com/gallery/2016-james-beard-award-nominees-for-restaurant-design}}</ref> * [[National Trust for Historic Preservation]] Driehaus Preservation Award – Chicago Athletic Association<ref name=NBCChi2016>{{cite news |title=3 Structures To Get Landmark Awards |date=September 11, 2015 |work=NBCChicago.com |url=http://www.nbcchicago.com/news/local/3-Chicago-Structures-to-Get-Landmark-Awards-326601441.html}}</ref> * [[Louisiana]] Landmarks Society 2017 Awards for Excellence in Historic Preservation - The [[Pontchartrain Hotel]]<ref name=LALandmarks>{{cite news | title=2017 Awards for Excellence in Historic Preservation |date=April 2017 |work=Louisiana Landmarks Society |url=http://www.louisianalandmarks.org/preserve/2017-awards-excellence-historic-preservation}}</ref> * Urban Land Institute's 2017 Excellence in Development - Thompson Nashville<ref name=TheTennessean>{{cite news |title=Urban Land Institute's 2017 Excellence in Development awards winners |date=May 8, 2017 |work= tennessean.com |url=http://www.tennessean.com/picture-gallery/money/2017/05/08/urban-land-institutes-2017-excellence-in-development-awards-winners/101408720/}}</ref> * [[Fast Company (magazine)|Fast Company]] The World's Most Innovative Companies 2018 – Graduate Hotels<ref name=FastCo18>{{cite news |title=The World's Most Innovative Companies 2018 |date=February 27, 2018 |work=Fast Company |url=https://www.fastcompany.com/most-innovative-companies/2018}}</ref> == References == {{reflist|2}} == External links == * [http://www.ajcpt.com www.ajcpt.com AJ Capital Partners] [[Category:Hotel chains in the United States]] [[Category:Companies based in Chicago]]'