US: Hotel investment, management acquisition and development company Equinox Hospitality has purchased the Four Points by Sheraton San Rafael Marin County for $38 million.
The acquisition marks the fifth addition to the Equinox portfolio in the past year. The hotel offers 235 rooms, a restaurant and bar, outdoor swimming pool and hot tub, and meeting and event space.
Equinox plans to renovate and rebrand the property kickstarting next year. When complete, it will join Marriott’s independent Tribute portfolio.
Adam Suleman, principal at Equinox Hospitality, said: “The potential of this property has always resonated with me, having kept an eye on it for quite some time. When it came onto the market, it felt like the perfect alignment of opportunity. Marin County is an affluent market that presents a strong demand for a hotel of this nature due to its supply constraints. The property’s strategic location — being at the heart of key sites in Marin, in proximity to San Francisco and Wine Country, and next door to a billion-dollar retail and development zone — lends itself to a wealth of opportunities.”
He added: “Having acquired five unique properties and executed more than $100 million in hotel deal volume in the past year, Equinox is on a determined expansion path. We are keen on solidifying our presence in existing markets and exploring new promising ones. With an optimistic view on San Francisco’s rebound, we aim to expand across the Bay Area. Our strategic partnerships with the major hotel brands continue to bolster our growth, and we remain confident about unearthing valuable opportunities, especially in California and Texas, even amid some uncertainties.”