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San Diego locale undergoing $25 million renovation
Pebblebrook Hotel Trust said it has acquired The Westin Gaslamp Quarter hotel in San Diego from Starwood Hotels and Resorts for $110.0 million. Starwood will continue to manage the 450-room, upper upscale, full-service hotel.
The 24-year-old Westin Gaslamp is in the midst of a multi-phase, comprehensive hotel renovation. The first phase of that effort, a $12 million upgrade to its guest rooms, was recently completed. This summer, the hotel will begin a $13 million overhaul to its public areas, including upgrades to its exterior arrival area, public restrooms, lobby, restaurant/bar and meeting space.
“The strong leisure, convention and group demand of San Diego, particularly in the Gaslamp Quarter, makes the Westin Gaslamp an exceptional investment for our company,” says Jon Bortz, Chairman, president and ceo Pebblebrook, a publicly traded real estate investment trust.
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