Hawkins Way Capital Opens Fourth Series by Marriott Hotel in Chicago With FCL Management

CHICAGO — Hawkins Way Capital, a vertically integrated real estate company with $3 billion of assets under management, announced July 6 the opening of FOUND Hotels, Chicago as the fourth U.S. property to join Marriott International's Series by Marriott brand. The River North hotel is managed by FCL Management and marks the latest milestone in a portfolio conversion partnership established with Marriott in September 2025.

The opening advances a broader agreement under which Hawkins Way Capital is converting a portfolio of its FOUND Hotels properties into Series by Marriott flags. The evolving pipeline spans major U.S. markets including San Francisco and San Diego, and already includes leisure destinations such as Santa Barbara, Miami, and Santa Monica, according to the company.

Property Refresh and New Amenities

In tandem with the brand conversion, FOUND Hotels, Chicago unveiled a series of property-wide enhancements. Guestroom updates include new case goods and the reconfiguration of full and queen rooms. Public spaces received refreshed furnishings and updated design elements drawn from Chicago's architectural vernacular — incorporating terracotta tones, warm woods, and historic masonry influences, the company said.

The hotel also introduced Lost & FOUND, a new coffee concept operating daily from 6 a.m. to 11 a.m. A co-working space with 24/7 guest access, a meeting room, and a gym are slated to open later this summer.

"We're focused on delivering a hospitality experience that reflects the spirit and vibrancy of Chicago while continuing to build on what has made this property a favorite among travelers visiting River North," said Brian Nolen, General Manager of FOUND Hotels, Chicago. "Becoming part of the Series by Marriott collection allows us to pair the personality and style of an independent hotel with the trust, recognition, and enhanced benefits that today's guests value."

FCL Management's Role and the FOUND Portfolio

FCL Management, a third-party multi-class property manager specializing in boutique and flagged hotels, manages all properties in the FOUND Hotels pipeline converting to Series by Marriott. The firm operates Hawkins Way Capital's FOUND Hotels and FOUND Study brands, which together comprise more than 7,500 rooms and suites across urban and university markets nationwide, according to company materials.

Hawkins Way Capital developed the FOUND Hotels brand beginning in 2016, building it around flexible room formats, experience-driven design, and hyper-local positioning. Through the Series by Marriott partnership, participating FOUND properties gain access to Marriott Bonvoy, the hospitality giant's loyalty and distribution platform, while retaining their independent character and local design identity.

Strategic Context

The Chicago conversion is consistent with Hawkins Way Capital's stated investment strategy of acquiring underutilized assets and repositioning them into long-term, high-performing investments across hospitality, multifamily, and student housing. The firm focuses on value-add and opportunistic strategies in high-demand lifestyle markets.

The company noted that summer programming — including outdoor concerts, festivals, and Riverwalk activity — makes the timing of the hotel's refresh and rebrand relevant for capturing near-term leisure demand.

About the Companies

Hawkins Way Capital describes itself as a fully vertically integrated real estate company with $3 billion of assets under management, with investment focus areas spanning hospitality, multifamily, and student housing. FCL Management is a third-party operator with expertise across hospitality, multifamily residences, and student housing. Series by Marriott is a soft-brand collection operated by Marriott International (Nasdaq: MAR), which oversees a portfolio of more than 9,600 properties across more than 30 brands in 143 countries and territories.

Media inquiries regarding Hawkins Way Capital may be directed to Rama Chalati at 949-306-6106.

Sources: Hawkins Way Capital press release via PR Newswire, July 6, 2026