LaSalle Hotel Properties Reports Purchase of Two San Fran Hotels for $47.8M

LaSalle Hotel Properties

today announced that it acquired the Harbor Court Hotel and Hotel Triton, both located in San Francisco, CA for $47.8 million. The Company funded the transaction with borrowings from its Senior Unsecured Credit Facility. Harbor Court Hotel The 131-room, Harbor Court Hotel is located at 165 Steuart Street in San Francisco's financial district on the Embarcadero and offers stunning views of the San Francisco Bay. The hotel is proximate to many downtown attractions including the Ferry Building, Embarcadero Center, AT&T Park and the Moscone Convention Center. The property's location and access to popular restaurants, shops and entertainment venues make it an attractive destination for both leisure and business travelers. Originally built in 1926, the building was extensively renovated and converted in 1991 to the Harbor Court Hotel. The Harbor Court Hotel houses the 230-seat, upscale, contemporary Japanese Restaurant “Ozumo,” which is leased to a third-party restaurateur and open for lunch and dinner. Ozumo was created in May 2001 and has been very successful since opening.