A Fairmont hotel in California, Claremont Club & Spa, has changed owners for $163.3M.
The property is managed by Accor-owned FRHI Hotels & Resorts, but it is unclear what plans the new owner, Ohana Real Estate, may have. It could continue as a hotel, although not necessarily under the Fairmont brand, or be turned into something else.
You can access Claremont Club & Spa, A Fairmont Hotel here.
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Excerpt from SiliconValley.com:
The Claremont Club & Spa, an iconic hotel perched in the hills on the Oakland-Berkeley border, has been bought by a Bay Area real estate developer in a deal that tops $160 million.
The hotel, part of the Fairmont chain, was bought for about $163.3 million, according to documents filed on May 12 with the Alameda County Recorder’s Office.
The hotel complex is a historic property and is listed as an Oakland City Historical Landmark. The Claremont also is a member of Historic Hotels of America.
This historic hotel has been in business for 108 years and is also a local landmark.
It is weird that it is somewhat unclear precisely who sold the hotel. Some press articles mention Accor’s own FHRI as the seller, while others refer to Blum Capital Partners and some both.
It may continue as an Accor manager property under the Fairmont brand, or it may not. The new owners can likely decide depending on what was agreed upon during the purchase process.