October 5, 2015 Comments Off on San Francisco Fairmont Hits Market Views: 881 Bay Area, California News

San Francisco Fairmont Hits Market

The San Francisco Fairmont hotel, one of the most famous hospitality venues in the city, is reportedly about to be sold for $450 million. The potential buyer is Mirae Asset Global Investments, a firm based in South Korea.

The current owners, Woodbridge Capital Partners and Oaktree Capital Management, bought the building in 2012 for $200 million and spent $20 million on renovations. The $450-million purchase price by Mirae translates to a hefty $760,000 per room.

San Francisco reportedly had 18 million visitors last year who spent $10.7 billion in the city, a 13.7-percent increase from the prior year.

Read More at Silicon Valley Business Journal

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