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Starwood Sells W San Francisco

Where: 181 3rd Street [map], San Francisco, CA, United States, 94102

News outta W Hotels today (well, news besides the opening of W Washington DC): according to the San Francisco Chronicle, Starwood has agreed to sell the W San Francisco to Hong Kong investment company Keck Seng Investments Ltd for $90 million. Per a statement made by Starwood, the sale was made to reduce the 'wood's debt — but never fear, the place will still operate as a W.

But the sale sort of sheds light on the sad-ish state of affairs in the hotel industry:

The high-water mark for San Francisco hotel sales was set around April 2007, when Taj Hotels Resorts and Palaces based in Mumbai, India, bought Campton Place from Kor Hotel Group of Los Angeles for about $58 million. That amounted to more than $500,000 per room, nearly 60 percent more than the W's "per-key" price of less than $213,000.

Whew. That W had been for sale since the end of last year, though, so we guess it's good that someone bought the place.

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Arizona Gets Another Ritz

Where: Indian Bend/Scottsdale Roads [map], Paradise Valley, AZ, United States

Perhaps humbled by the confused reactions to their plans for Westchester, Ritz-Carlton is getting back to basics unveiling their plans for a resort in Paradise Valley in Arizona.

Plans for the 225-room hotel near Scottsdale will be presented today at another hotel, the Camelback Inn. (This hotel is also owned by Marriott and made famous by Britney Spears who hung out here for a while last year.) So far the only thing proposed for the hotel is the amount of rooms and that it will only be one-story. But we are guessing it will have the usual Ritz amenities with some added pools to cool down in heat.

This will be the second Ritz for Arizona. The first one opened in 1988 in Phoenix.

Image via BrianDJ/Flickr

Related Stories:
· Ritz Carlton Hotel is Coming [AZ Central]
· Ritz-Carlton to Invade Starwood Headquarters [HotelChatter]