San Francisco hotel sells for $315m

The 681-key Park Central San Francisco, located in the city’s South of Market district, has sold for $315.2 million, according to the San Francisco Chronicle. Pebblebrook Hotel Trust sold the property to Highgate Hotels.

In September, the Bay Area hotel sector’s revenue per available room in the San Francisco and San Mateo metro area jumped 13.3 percent to $239.64 per night, the largest increase in the country, according to STR, a research firm.