SAN FRANCISCO—Loews Hotels & Resorts has entered into an agreement to purchase the 158-room Mandarin Oriental San Francisco Hotel. The acquisition is expected to close in late March.
“This will be our entrée into San Francisco, a major gateway market and a very important location for Loews Hotels’ core customer base,” stated Paul Whetsell, president/CEO of Loews Hotels & Resorts. “We have been exploring opportunities to enter the San Francisco market for some time, so we are thrilled to add such a respected five-star hotel to our growing brand.”
Located in the Financial District, the hotel, currently managed by Mandarin Oriental Hotel Group, is situated on the top 11 floors of San Francisco’s third-tallest office building, showcasing uninterrupted views of San Francisco and its bay. The hotel features the Brasserie S&P restaurant, more than 5,000 sq. ft. of meeting space and a new 8,000-sq.-ft. spa and fitness center.
This property is the seventh addition to the Loews Hotels portfolio in the past 30 months. Loews Hotels will open the 400-room Loews Chicago Hotel on March 2 and plans to grow its brand in gateway cities and resort destinations, according to the company.