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January 16, 2013

Gemstone buys Hotel Durant in Berkeley

Gemstone Hotels & Resorts has acquired Hotel Durant, which is adjacent to the University of California Berkeley campus.

By admin-demo

Gemstone Hotels & Resorts has acquired Hotel Durant, which is adjacent to the University of California Berkeley campus.

Located at 2600 Durant Avenue, the rooms at the 144-room boutique hotel feature laptop safes and iPod docking stations.

Graduate floor rooms feature a concierge-style lounge and offer a daily, complimentary breakfast and wine hour.

"The hotel occupies its own niche in a very unique market, and I am confident that we can successfully reposition it to more fully take advantage of its prime location near this prestigious college campus."

Henry’s, Hotel Durant’s signature restaurant, serves breakfast, lunch and dinner, offering craft-brewed beer, locally-sourced gastropub fare and a range of California wines.

Gemstone principal Thomas Prins said the addition of Hotel Durant to its portfolio allows the company to better serve guests in the greater San Francisco area.

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"We aggressively are pursing other equity-based deals and are positioned to act quickly in the future when we can acquire and add immediate value. For 2013, we are optimistic that our active pipeline will yield some exciting hotels in excellent locations," Prins added.

Gemstone principal Jeff McIntyre said: "The hotel occupies its own niche in a very unique market, and I am confident that we can successfully reposition it to more fully take advantage of its prime location near this prestigious college campus."

Headquartered in Park City, Utah, Gemstone Hotels & Resorts is a full-service hotel management firm that specialises in owning and operating luxury and upscale urban hotels and resorts.

The hotel’s portfolio of major market boutique hotels also includes Maison 140 in Beverly Hills, the Mosaic in Los Angeles, the Copley Square Hotel in Boston and The Carlton in New York.

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