US: Hotel investment, management acquisition and development company Equinox Hospitality has bought the 4 Factors by Sheraton San Rafael Marin County for $38 million.
The acquisition marks the fifth addition to the Equinox portfolio prior to now yr. The resort provides 235 rooms, a restaurant and bar, outside swimming pool and scorching tub, and assembly and occasion house.
Equinox plans to renovate and rebrand the property kickstarting subsequent yr. When full, it is going to be part of Marriott’s unbiased Tribute portfolio.
Adam Suleman, principal at Equinox Hospitality, stated: “The potential of this property has all the time resonated with me, having stored a watch on it for fairly a while. When it got here onto the market, it felt like the proper alignment of alternative. Marin County is an prosperous market that presents a robust demand for a resort of this nature on account of its provide constraints. The property’s strategic location — being on the coronary heart of key websites in Marin, in proximity to San Francisco and Wine Nation, and subsequent door to a billion-dollar retail and improvement zone — lends itself to a wealth of alternatives.”
He added: “Having acquired 5 distinctive properties and executed greater than $100 million in resort deal quantity prior to now yr, Equinox is on a decided enlargement path. We’re eager on solidifying our presence in present markets and exploring new promising ones. With an optimistic view on San Francisco’s rebound, we purpose to increase throughout the Bay Space. Our strategic partnerships with the main resort manufacturers proceed to bolster our progress, and we stay assured about unearthing helpful alternatives, particularly in California and Texas, even amid some uncertainties.”