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Thayer Lodging buys San Francisco Ritz-Carlton
//July 1, 2013
Host Hotels & Resorts, of Bethesda, a real estate investment trust focused on luxury and upper-scale hotels, announced the sale of the 336-room Ritz-Carlton, San Francisco for approximately $161 million.
The buyer is an investment vehicle sponsored by Thayer Lodging Group, of Annapolis, a real estate venture capital company that specializes in hotels and the hospitality industry. Host said it will use the proceeds to fund future acquisitions and for general corporate purposes.
Gregory J. Larson, Host’s chief financial officer, said the hotel sold at an “attractive price.” He noted, “This brings our total dispositions since the beginning of last year to over $600 million.”
