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Case Study

Hyatt Fisherman’s Wharf in San Francisco Sold

Jones Lang LaSalle's Hotels & Hospitality was engaged by Hyatt in November 2012 to market for sale the fee-simple interest in the Hyatt Fisherman’s Wharf. Following a request from Hyatt to expand the offering to include the Hyatt Santa Barbara and Hyatt Regency Santa Clara, JLL subsequently modified its collateral and marketing strategy to incorporate a flexible portfolio offering. The Property is located in the heart of the Fisherman’s Wharf neighborhood, San Francisco’s most visited tourist destination. The non-union Property contains 313 guest rooms, 19,000 square feet of meeting space, two F&B outlets, and a heated outdoor pool.  The Property was also in excellent condition having received approximately $17 million, or $55,000 per key, in renovations since 2006.
 
Investors gravitated towards the inherent strength of the San Francisco lodging market as well as the franchise conversion optionality which fostered additional competition for the Hotel. Following multiple rounds of bidding, JLL endorsed Chesapeake Lodging Trust as the buyer, which closed in an expedited timeframe and at the originally agreed-upon price.
 
For more information please contact John Strauss

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