Fairmont San Francisco Sold, Renovations Planned
The Fairmont San Francisco was sold earlier this week for nearly $200 million. The hotel was purchased by a group that included an affiliate of Oaktree Capital Management LP and Michael Rosenfeld and his Woodridge Capital Partners LLC. Fairmont will continue to manage the property.
The new owners plan a $20 million renovation for the hotel, which will include new carpets, bedding, upholstery, and painting. All 591 rooms will be renovated over the next two years.
This Fairmont was completed and almost ready for opening in 1906 when the great San Francisco earthquake struck. The interior was heavily damaged but it was still ready to open in 1907.
The hotel has been the site of many historic meetings including the signing of the United Nations Charter (in the suite pictured above).