In-Depth: L.A. investors buy historic San Francisco hotel
The Intercontinental Mark Hopkins hotel in San Francisco has sold to joint venture partners Woodridge Capital and funds managed by Oaktree Capital Management. Here’s an in-depth look at the deal.
InterContinental Hotels Group sold the 383-room Mark Hopkins Hotel at One Nob Hill in San Francisco for $120 million. Oaktree and Woodridge plan to invest $20 million in hotel renovations to the guest rooms and public spaces.
IHG will continue to manage the storied property.
The Mark Hopkins Hotel opened on Dec. 4, 1926, on the site of railroad magnate Mark Hopkins’ 40-room mansion. Hopkins was one of the founders of the Central Pacific Railroad that built the railway that linked the U.S. East and West