Host Hotels & Resorts and Kokua Hospitality have announced plans to transform the Powell Hotel in San Francisco, US, to a new independent identity and rename it as Axiom Hotel.
In early 2014, the Powell Hotel was acquired by Host Hotels & Resorts for conversion and facilitate management of operations byhotel management firm Kokua Hospitality.
Host Hotels & Resorts executive vice-president and chief investment officer Struan Robertson said: "We are excited to unveil the new name, Axiom Hotel, marking the beginning of a significant transformation that will create meaningful value in this asset.
"The hotel was acquired as part of our strategy of narrowing our investment markets, primarily focusing on gateway cities and urban and resort / conference markets, while establishing a deeper foothold in those markets by expanding our investments to include upscale properties that may be operated by an independent manager or without a major brand affiliation."
Closed at the end of December, The Powell Hotel is located in the heart of downtown San Francisco, two blocks from Union Square, three blocks from the Moscone Convention Center.
According to Host Hotels & Resorts, the property is expected to reopen with 152 rooms as the transformed Axiom Hotel in the fall of 2015.
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By GlobalDataKokua Hospitality chief operating officer Phil Tufano said: "We are extremely excited to begin the renovation of the Axiom Hotel.
"Just steps away from the action, the hotel’s innovative expression will exude the historic and energetic elements of San Francisco’s arts, music, and culinary scene all for our guests to savour."