Parc 55 San Francisco
Parc 55 San Francisco - a Hilton Hotel is a 350 ft (107 m) skyscraper hotel located in Tenderloin, San Francisco, California.
History
The Ramada Renaissance Hotel opened in October 1984.[4] Ramada Renaissance was the upscale division of Ramada Inns. The hotel was sold to Oakland developer Larry Chan's Park Lane Hotels in 1989 and renamed the Parc Fifty Five Hotel. On April 30, 1998, the hotel was reflagged as Renaissance Parc 55 Hotel. Renaissance Hotels had separated from Ramada in 1989 and been purchased by Marriott in 1997. The hotel became Marriott's 1500th property worldwide.[5] Boston-based Rockpoint Group and Dallas-based Highgate Holdings bought the hotel from Park Lane Hotels in 2006 for $170 million.[6] The hotel left Marriott on January 15, 2007, and became the Parc 55 Hotel. In April 2010, the hotel joined Wyndham Hotels and was renamed Parc 55 Wyndham San Francisco - Union Square.[7] In 2012, The Blackstone Group took 75 percent ownership of the hotel.[6] In February 2015, Hilton Worldwide bought the property and renamed it Parc 55 San Francisco - a Hilton Hotel.[8] In 2018, the building was valued at $512.2 million.[2] In 2023, Park Hotels & Resorts (an investment trust spun off from Hilton Worldwide in 2017) surrendered Parc 55 and the nearby Hilton San Francisco Union Square to its lender JPMorgan Chase, citing San Francisco's "record high office vacancy; concerns over street conditions; lower return to office than peer cities; and a weaker than expected citywide convention calendar."[9] In December 2023, the two hotels were placed into court-appointed receivership, under the control of Hotel Value Asset Enhancement for Wilmington Trust, the entity representing the mortgage lenders.[10]
References
- ^ "This company is taking over two of S.F.'s largest hotels. The goal: sell them within 11 months". The San Francisco Chronicle. Retrieved 2023-12-24.
- ^ a b Roland Li. "SF's 10 most valuable buildings". The San Francisco Chronicle. Retrieved 2021-06-15.
- ^ "Parc 55 San Francisco - The Skyscraper Center". www.skyscrapercenter.com. Retrieved 2021-06-15.
- ^ "Bike mural?? Pt 1 1984". The San Francisco Examiner. 5 October 1984. p. 21.
- ^ "Marriott International Announces Its 1,500th Hotel; San Francisco's Parc 55 Hotel Re-flagged as a Renaissance / April 1998".
- ^ a b "S.F.'s Parc 55 Wyndham could fetch $550M in one of city's biggest hotel sales of 2014". www.bizjournals.com. Retrieved 2021-06-15.
- ^ "Parc 55 Hotel San Francisco Will Join the Wyndham System | News | Breaking Travel News". Retrieved 29 March 2023.
- ^ "Hilton Worldwide Expands Portfolio in San Francisco with Acquisition of Parc 55 Wyndham San Francisco – Union Square". Hospitality Net. Retrieved 2021-06-15.
- ^ Barmann, Jay (2023-06-05). "Owner of SF's Largest Hotel, the Hilton Union Square, Is Walking Away, Surrendering It to Lender". SFist. Retrieved 2023-06-06.
- ^ https://www.sfchronicle.com/sf/article/s-f-largest-hotels-taken-over-18450839.php
- v
- t
- e
500 feet (150 m)
- Salesforce Tower
- Transamerica Pyramid
- 181 Fremont
- 555 California Street
- 345 California Center
- Millennium Tower
- One Rincon Hill
- The Avery
- Park Tower at Transbay
- Salesforce West
- 101 California Street
- 575 Market Street
- Four Embarcadero Center
- One Embarcadero Center
- 44 Montgomery
- One Market Plaza Spear Tower
- One Sansome Street
- The Harrison
- One Front Street
- First Market Tower
- McKesson Plaza
- 425 Market Street
- 706 Mission Street
- One Montgomery Tower
400 feet (120 m)
- 333 Bush Street
- Hilton San Francisco Union Square Tower I
- Pacific Gas & Electric Building
- 50 California Street
- 555 Mission Street
- St. Regis Museum Tower
- 100 Pine Center
- 45 Fremont Street
- 333 Market Street
- 650 California Street
- 100 First Plaza
- 340 Fremont Street
- 399 Fremont Street
- 500 Folsom
- One California
- San Francisco Marriott Marquis
- Russ Building
- 140 New Montgomery
- Jasper
- MIRA
- The Infinity II
- JPMorgan Chase Building
- The Paramount
- Providian Financial Building
- Three Embarcadero Center
- Two Embarcadero Center
- Salesforce East
- 595 Market Street
- 123 Mission Street
- 101 Montgomery
- Embarcadero West
- 100 Van Ness Avenue
- LUMINA
- Fifteen Fifty
300 feet (91 m)
- One Maritime Plaza
- Four Seasons Hotel
- 415 Natoma Street
- Westin St. Francis
- 33 Tehama Street
- 456 Montgomery Plaza
- 535 Mission Street
- Shell Building
- Park Central Hotel San Francisco
- 222 Second Street
- 199 Fremont Street
- One Market Plaza Steuart Tower
- Hilton San Francisco Financial District
- 425 California Street
- 100 Montgomery Street
- Grand Hyatt San Francisco
- Fox Plaza
- 101 Second Street
- NEMA
- 580 California Street
- 601 California Street
- The Infinity I
- Hilton San Francisco Union Square Tower II
- 450 Sutter Street
- InterContinental San Francisco
- Stevenson Place
- BridgeView
- 150 California Street
- 225 Bush Street
- 505 Montgomery Street
- Blue Shield of California Building
- Fairmont San Francisco
- 180 Montgomery Street
- KPMG Building
- Central Plaza
- The Summit
- W San Francisco
- 353 Sacramento Street
- 555 Market Street
- Bank of California Building
- Phillip Burton Federal Building
- Ritz-Carlton Club and Residences
- San Francisco Marriott Union Square
- 88 Kearny Street
- 388 Market Street
- Commercial Union Assurance Building
- Hunter-Dulin Building
- One Bush Plaza
- McAllister Tower Apartments
- 301 Howard Street
- Mark Hopkins Hotel
- Mills Tower
- Central Tower
- Solaire
- Palace Hotel Residential Tower
- Treasure Island development
- 5M Project
- 524 Howard Street
- See also: San Francisco Designated Landmarks, Buildings and structures in San Francisco