**Park Hotels Sells Fisherman’s Wharf Hyatt for $80 Million**
Park Hotels & Resorts has completed the $80 million sale of the 316-room Hyatt Centric Fisherman’s Wharf in San Francisco, one of only two properties the company held in the city. While the buyer was not officially identified, the San Francisco Business Times has reported that New York-based EOS Investors LLC is the new owner. EOS also owns another hotel along the same waterfront corridor.
For Park Hotels, which is based in Tysons, Virginia, the sale price equates to approximately $253,000 per key and represents 64 times the hotel’s projected 2024 EBITDA. Chairman and CEO Thomas J. Baltimore, Jr. noted the transaction supports the company’s strategy of shedding $300 million to $400 million in non-core assets this year.
This acquisition marks another strategic purchase by EOS Investors, which previously bought Hotel Zoe Fisherman’s Wharf from Pebblebrook Hotel Trust in 2023. According to the Business Times, EOS acquired the Hyatt Centric at a discount. In comparison, Chesapeake Lodging Trust originally paid $103.5 million for the property in 2013, prior to its acquisition by Park Hotels.
