A partnership between AWH Partners and The Roxborough Group has acquired the historic Villa Florence Hotel in San Francisco for $87.5 million. The partnership plans to fully reposition the 189-room hotel by upgrading all guestrooms, the lobby and the restaurant.
AWH Partners and The Roxborough Group purchased the hotel outside of the normal marketing process. The investors acted quickly to buy the property, which they said was a historically well-performing hotel in an "irreplaceable" location, which is walking distance to Union Square, Chinatown and the San Francisco Museum of Modern Art. The property is also close to the Financial District and Moscone Convention Center, which attracts business clientele.
The pandemic created an opportunity to realize significant upside through a capital improvement plan at the property. The hotel was built in 1915, and in addition to the guestrooms, the property features three meeting rooms, totaling 1,400 square feet of meeting space, a business center, a fitness center, valet parking and a lobby bar. The partnership expects to complete its renovation of the property by the end of next year.
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