From its beginning on new years eve 1920 to today the drake hotel has defined elegance and hospitality set in the prestigious gold coast neighborhood at the start of the magnificent mile this iconic chicago hotel is footsteps from oak street beach and lake michigan relax at the drake hotel in one of 535 elegantly decorated guest rooms and 74 suites including the princess diana suite which was graced by the princess of wales herself appreciate the amenities that include classic decor plus