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Sax/Westin owner buys two San Francisco hotels
(Above) View from a penthouse at Harbor Court Hotel in San Francisco. Click on image to view larger version. 3-Aug-13 – The real estate investment trust that owns River North’s Hotel Sax and Westin Michigan Avenue has purchased two hotels in San Francisco. LaSalle Hotel Properties says it paid $47.8 million for Harbor Court Hotel and Hotel Triton. The 131-room Harbor Court Hotel, built in 1926 and renovated in 1991, is located in San Francisco’s financial district and offers, says a news release on Friday, “stunning views of the San Francisco Bay.” Hotel Triton is located in the city’s Union Square neighborhood. The 140-room hotel was built in 1912 and renovated last year. “After exceeding cyclical prior peak demand in 2011, the market continues to grow,” said LaSalle CEO Michael Barnello. “We are equally encouraged by the very limited supply growth slated for the next several years.” Both hotels will continue to be operated by Kimpton Hotels and Restaurants. Based in Bethesda, Maryland, LaSalle now owns 42 upscale hotels in 13 markets.
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