Blackstone Inc is nearing a deal to acquire the Four Seasons Hotel San Francisco from Westbrook Partners, as the private investment giant bets on a revival of San Francisco’s hospitality and downtown market, according to a report by Bloomberg.
The property, located at 757 Market Street in the city’s Financial District, is seen as a signal from Blackstone that it views the post-pandemic recovery in the Bay Area’s travel and business sectors as sufficiently advanced to support large-scale luxury hotel investment.
Westbrook reportedly worked with advisor Eastdil Secured on the sale of the property. Hybrid working and safety concerns had damaged the city’s commercial property market. The election of pro business Daniel Lurie as mayor and the boom in artificial intelligence companies has contributed to a recovery for the sector.
