Ritz-Carlton San Francisco Acquired as Building is Once Again Part of MetLife
By Alex Girda, Associate Editor
As the city’s hospitality market soars to new heights, there might be space for passion plays as MetLife Inc. recently acquired its former headquarters, now a thriving San Francisco hotel. The insurance giant entered a joint venture with Thayer Lodging Group to purchase The Ritz-Carlton San Francisco for a grand total of $161 million. The building housed the corporation between 1909 and 1973. After a number of modifications and a four-year renovation process, the building finally received new life with the 1991 opening of the Ritz-Carlton San Francisco.
The 336-key hotel offers a great downtown location and 14 event venues that could accommodate various types of gatherings. The Ritz-Carlton’s 60 spacious suites, including the 600-700 square-foot Junior Suites and the 800-900 square-foot One Bedroom Suites, offer 32-inch HD LCD-TVs, DVD-CD players, and the full Deluxe Room amenity package. The hotel’s club level features a number of extra amenities including complimentary internet, garment pressing, coffee service and wake-up calls. Guests here also benefit from access to a 24-hour business lounge and the signature Club Concierge service. The Club Level’s top rooms are the Ritz-Carlton Suite 919, a 1,980-square-foot suite offering views of San Francisco Bay, Colt Tower and Alcatraz, and the Presidential Suite, a 1,960-square-foot space offering a 1,200 square-foot outdoor balcony with views of the Financial District.
Thayer Lodging Group and MetLife Real Estate Investors are set to undergo their own set of renovations and improvements at the property in order to further raise the profile of the venue. The building’s iconic architecture featuring 18 Ionic columns and 185 lion’s heads located across the building’s courtyards offer an opulent image that will most likely be maintained by the new owners.
Image courtesy of ritzcarlton.comTags: Acquisitions/Dispositions, Brokers, Commercial, economy, Finance/Investment, Financiers, Hospitality, hotel acquisition, Investors, Local, Maintenance, MetLife Inc., National, Owners, Policy, Professional, Regional, Ritz-Carlton San Francisco, San Francisco hospitality market, San Francisco Lead Story, Thayer Lodging Group