The hotel investment firm Thayer Lodging Group acquired Host Hotels and Resorts' Ritz-Carlton San Francisco. This was the first investment of Thayer Fund VI, a new fund of Thayer Lodging Group.
Details regarding the acquisition were not made public. However, Thayer mentioned that during the first two years of its ownership, the private equity firm planned to put $17 million as investment in Ritz-Carlton San Francisco, which is typical of Thayer.
These first 24 months would be focused on improving the offerings, services, and amenities of the hotel. Specifically, this included increasing market share, managing channel distributions effectively, and creating impactful changes.
The Thayer Lodging Group set a target of $300 for the new Thayer Fund VId, and given its track record, high returns were expected. The Thayer Lodging Group completed 43 hotels since it started more than two decades ago, with accumulated hotel investments totaling to approximately $2.5 billion.
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