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JER Buys Renaissance Stanford Court Hotel

SAN FRANCISCO-Local industry specialists tell GlobeSt.com that the 393-room hotel atop Nob Hill likely commanded upward of $400,000 per key.

By Brian K. Miller | Updated on January 16, 2007

SAN FRANCISCO-The 393-room Renaissance Stanford Court Hotel here has changed hands. The new owner, the private equity investment arm of J.E. Robert Cos., did not reveal the sale price or the seller, but local industry experts tell GlobeSt.com that the sale price for the Downtown hotel likely came in above $400,000 per key, which would translate to $157 million, and that the seller likely was Stanford Hospitality.

“The top of Nob Hill, it doesn’t get any better as far as location,” Alan Reay, president of the hotel brokerage firm Atlas Hospitality Group, tells GlobeSt.com. “I think the $160- to $170-million range would be a good guess.”

Cia Buckley, head of JER’s US fund business, says plans for the hotel include a substantial renovation to all guestrooms, revitalization of the lobby, lobby lounge, restaurant, and meeting space, refreshing of the corridors, installation of improved back-of-house administrative systems, and more visible external signage. Jim Kauffman, EVP of Marriott International, says the hotel will be continue to be managed by Marriott International of Washington, DC, and will continue to operate as a Renaissance.

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