Powell / Axiom Hotel San Francisco — Host Hotels acquisition
Axiom Hotel San Francisco · 151 keys · Upscale
Consideration
$75.0M
$497k / key
Host 10-K / earnings exhibit: $75 million for the 151-room Powell Hotel, 8,554 sf of retail, and the fee-simple land. PPK includes retail and land — not rooms-only.
Host Hotels & Resorts earnings exhibit (EX-99.1), February 2014
On January 21, 2014 Host acquired the 151-room Powell Hotel in San Francisco, along with 8,554 square feet of retail and the fee-simple land, for $75 million. Later converted to Axiom. Do not treat $496k/key as a rooms-only Union Square comp. Trade-press hotel/retail splits are unnamed-source gossip — Harbor will not repeat them as fact.