TORONTO — Fairmont Hotels & Resorts, Toronto has announced the sale of the 591-room Fairmont San Francisco hotel.
The Fairmont San Francisco hotel has been bought by Woodridge Capital Partners, based in Los Angeles, for US$200 million from St. Louis’ Maritz, Wolff & Co., and Saudi prince and business mogul Al-Waleed bin Talal.
The sale comes after Maritz, Wolff & Co. was denied permission by the municipal government of San Francisco to convert the hotel building into residences. Fairmont Hotels & Resorts, Toronto, is expected to continue managing the hotel.
