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April 11, 2011

Pebblebrook Buys Westin Gaslamp Quarter Hotel

Maryland-based Pebblebrook Hotel Trust has acquired the Westin Gaslamp Quarter hotel in San Diego, California, US, for $110m from Starwood Hotels & Resorts Worldwide. Following the acquisition, Pebblebrook Hotel Trust is committed to investing $23m in property enhancements, which a

By cms admin

Maryland-based Pebblebrook Hotel Trust has acquired the Westin Gaslamp Quarter hotel in San Diego, California, US, for $110m from Starwood Hotels & Resorts Worldwide.

Following the acquisition, Pebblebrook Hotel Trust is committed to investing $23m in property enhancements, which are expected to be completed by 2012.

The hotel will continue to be managed by Starwood under its Westin brand and will maintain a 20-year management agreement with two ten-year extension options.

The property offers 450 guestrooms with eight suites, and 2,508m² of indoor meeting space, a ballroom, an outdoor function space, an outdoor pool, two restaurants, a cafe and an on-site indoor parking facility.

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