St. Francis sale is sign of robust market

Thursday, 27 Mar, 2006 0

Another indication San Francisco is on the rebound: news reports say the legendary Westin St. Francis hotel could fetch up to $420 million.

Four other hotels  —  The Four Seasons, Park Hyatt, Argent and Pan Pacific  —  were sold recently.

The 1,200-room St. Francis is one of the largest hotels in the city. It’s owned by Blackstone Group and managed by Starwood Hotels & Resorts.

The more-than-a-century old property has a perfect location on Union Square.

Curtis Davies, a hotel sales executive at Buchanan Street Partners, told the San Francisco Business Times the sale price reflects a pent-up demand from a five-year period when there was virtually no hotel activity in the city.

Report by David Wilkening



 

profileimage

David



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...