Parc 55 San Francisco
| Parc 55 San Francisco - a Hilton Hotel | |
|---|---|
In 2021 | |
Location within San Francisco Parc 55 San Francisco (California) Parc 55 San Francisco (the United States) | |
| Alternative names | Renaissance Parc 55 Hotel |
| Hotel chain | Hilton Hotels & Resorts |
| General information | |
| Status | Completed |
| Type | Hotel |
| Location | 55 Cyril Magnin Street San Francisco, California |
| Coordinates | 37°47′05″N 122°24′32″W / 37.7846°N 122.4089°W |
| Completed | 1984 |
| Owner | Newbond Holdings and Conversant Capital |
| Height | |
| Architectural | 350 ft (110 m) |
| Roof | 350 ft (110 m) |
| Technical details | |
| Floor count | 32 |
| Floor area | 696,431 sq ft[1] |
| Design and construction | |
| Architect | Daniel, Mann, Johnson and Mendenhall |
| Other information | |
| Number of units | 1,024 |
| Parking | 135 |
| Website | |
| www | |
| References | |
| [2] | |
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.[3] 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.[4] Boston-based Rockpoint Group and Dallas-based Highgate Holdings bought the hotel from Park Lane Hotels in 2006 for $170 million.[5] 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.[6] In 2012, The Blackstone Group took 75 percent ownership of the hotel.[5]
In February 2015, Hilton Worldwide bought the property and renamed it Parc 55 San Francisco - a Hilton Hotel.[7] In 2018, the building was valued at $512.2 million.[1] In June 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".[8][9] At the request of Wilmington Trust, the entity representing the mortgage lenders, Hotel Value Asset Enhancement being appointed as the receiver for both hotels in October 2023.[10][11] Hotel Value Asset Enhancement was initially obligated to sell the hotels within 11 months,[10] but a judge later extended the sale deadline.[12][13]
Following multiple delays,[14] a partnership of Newbond Holdings and Conversant Capital, two New York investment groups,[15][16] purchased the two hotels in November 2025 for a total of $408 million,[17] more than $1 Billion less than the appraised value of the two properties in 2016.[18]
References
- ^ 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. Archived from the original on 2023-06-05. Retrieved 2023-06-06.
- ^ Li, Roland (June 5, 2023). "Owner to give up two of S.F.'s largest hotels as city's 'path to recovery remains clouded'". San Francisco Chronicle. Retrieved September 5, 2025.
- ^ a b Li, Roland (October 26, 2023). "This company is taking over two of S.F.'s largest hotels. The goal: sell them within 11 months". San Francisco Chronicle. Retrieved September 5, 2025.
- ^ "Park Executives Lay Out Next Steps After San Francisco Default". CoStar. November 2, 2023. Retrieved September 5, 2025.
- ^ "Judge extends deadline for sale of Hilton Union Square hotels". San Francisco Business Times. July 24, 2024. Retrieved September 5, 2025.
- ^ "Two of SF's largest hotels plunge $1B in value in eight years". The Real Deal. July 2, 2024. Retrieved September 5, 2025.
- ^ Li, Roland (August 8, 2025). "Two of S.F.'s largest hotels are on the verge of being sold, despite repeated delays". San Francisco Chronicle. Retrieved September 5, 2025.
- ^ Li, Roland (September 2, 2025). "Exclusive: Two of S.F.'s biggest hotels are being sold. These are the buyers". San Francisco Chronicle. Retrieved September 5, 2025.
- ^ "San Francisco's two largest distressed hotels finally have a buyer". The San Francisco Standard. September 2, 2025. Retrieved September 5, 2025.
- ^ https://www.businesswire.com/news/home/20251125558285/en/Newbond-Holdings-and-Conversant-Capital-Close-Acquisition-of-Two-Major-San-Francisco-Hotels
- ^ https://www.wsj.com/real-estate/commercial/blackstone-near-a-130-million-deal-for-san-francisco-four-seasons-hotel-6adcade6