Chesapeake Lodging Trust Acquires JW Marriott San Francisco Union Square $147.2 Million
October 2, 2014 7:16am
“We are delighted to close on the previously announced acquisition of the JW Marriott San Francisco Union Square and further expand our presence in the high-growth San Francisco market,” commented James L. Francis, President and Chief Executive Officer of the Trust. “We believe that San Francisco provides some of the strongest lodging fundamentals in the world and we are excited to grow Chesapeake’s footprint in this incredible marketplace to approximately 1,200 keys. The hotel’s excellent downtown, Union Square location and strong operating fundamentals make this acquisition an outstanding addition to our high-quality portfolio.”
The JW Marriott San Francisco Union Square is a 337-room “Quiet Luxury” brand offered by Marriott International. The iconic 21-story building sits on a prime corner location at Mason and Post in the heart of Union Square and features a 17-story atrium lobby. The hotel contains some of the largest accommodations in San Francisco, including 23 luxury suites that range from 600-1,500 square feet. Each guestroom contains a 42-inch flat screen television, Revive Collection bedding including pillow top mattresses, a Bose radio, wired and wireless HSIA, a generous work area with an ergonomic chair, and floor-to-ceiling marble encased four or five-fixture bathrooms with granite counters and separate tubs.
Guests arrive via the ground level porte-cochere to the first floor entry where a glass elevator transports them to the main lobby on the third floor. The spacious 17-story atrium lobby features guest registration and concierge services, a variety of comfortable seating groups, Level III Restaurant and Bar, and the large “Joie de Danse” bronze sculpture, which is the integral focal point of the lobby design.
Located on the third floor main lobby, the restaurant and bar were redesigned and introduced in 2008 as part of the lobby renovation. The open, flexible space benefits from the soaring atrium and is used as a catering venue for social events up to 175 guests.
The hotel has 12,445 square feet of highly flexible meeting and banquet space throughout 19 different meeting rooms. The diverse mixture of meeting space includes the Metropolitan Ballroom, well-appointed boardrooms and several breakout rooms on the 21st floor with views of the Golden Gate Bridge, and the Pacific Conference Center. The subterranean Pacific Conference Center is quickly becoming a favorite for law groups given its unprecedented level of security and privacy.
The JW Marriott San Francisco Union Square features a large fitness center which was renovated and expanded in 2012. A retail center offering everyday convenience items and healthy snacks is located on the third floor and the hotel also features a full-service business center offering a comprehensive level of services ranging from copy and fax to notary public and overnight delivery services. Parking is provided by valet service with unlimited in and out privileges via the 210-space below grade garage, which is leased to a third party.
“The hotel is in great condition following an approximate $25 million investment since its conversion to the JW brand in 2007,” continued Mr. Francis. “We have some exciting upgrades of our own planned in the coming years to keep this a market leading hotel in Union Square.”
Tags: chesapeake lodging trust,
jw marriott san francisco union square
Contact: Douglas W. Vicari
Chesapeake Lodging Trust Opens Hilton Denver City Center Following $27 Million Multi-Phased Renovation and Rebranding
Chesapeake Lodging Trust Sells The 222-Room Hotel Minneapolis, Autograph Collection for $46 Million
Chesapeake Lodging Trust Announces Agreement to Sell The Hotel Minneapolis, Autograph Collection for $46.0 Million, or Approximately $207,000 Per Key
Chesapeake Lodging Trust Enters Agreement for Rebranding of its Marriott Denver Hotel to Hilton Denver City Center
Boston Marriott Newton Completes Extensive Multi-Million Dollar Renovation
Q2 2017 Financial Reports Round Up - Part 3: Choice, Chesapeake, Chatham, Sunstone & ESA
Chesapeake Lodging Trust Reports Q1 2017 Net Income of $5.6 Million Compared to $7.6 Million in the Year Ago Quarter
Chesapeake Lodging Trust Reports Decrease in Q4 Net Income and RevPAR Growth
Chesapeake Lodging Trust Reports Q3 2016 Net Income of $23.5 million, a Slight Decrease Over 2015; RevPAR Down 0.7% Over the Same Year Ago Period
Chesapeake Lodging Trust Reports Second Quarter 2016 Net Income of $26.1 million, compared to $21.6 million in the Year-Ago Quarter
Chesapeake Lodging Trust Reports First Quarter Net Income of $7.6 million Compared to a net Loss of $0.9 million in Same Quarter 2015
Chesapeake Lodging Trust Reports Q4 2015 Net Income of $12.3 million Compared to $6.4 million in Q4 2014; RevPAR Increased 3.8%
Q3 2015 Financial Reports Round Up: Hyatt, Chesapeake, Ryman & Summit
Hyatt Regency Boston Debuts New $13 million Guestroom Renovation
Chesapeake Lodging Trust Acquires the Ace Hotel and Theater Downtown Los Angeles for $103 Million
Paul Toner Named General Manager of JW Marriott San Francisco Union Square
Chesapeake Lodging Trust Promotes D. Rick Adams to Chief Operating Officer
Hyatt Herald Square New York Hosts Event With City Dignitaries And Community Members
Hyatt Hotels and Chesapeake Lodging Trust Open the 122-room Hyatt Herald Square New York
Chesapeake Lodging Trust Sells Courtyard Anaheim at Disneyland Resort for $32.5M, or $212K per key
Please login or register to post a comment.