This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Triton Exterior (Photo: LaSalle Hotel Properties)

LaSalle Hotel Properties (NYSE: LHO) today announced that it acquired the Harbor Court Hotel and Hotel Triton, both located in San Francisco, CA for $47.8 million. The Company funded the transaction with borrowings from its Senior Unsecured Credit Facility.
Harbor Court Lobby (Photo: LaSalle Hotel Properties)

Harbor Court Lobby (Photo: LaSalle Hotel Properties)

Harbor Court Hotel

The 131-room, Harbor Court Hotel is located at 165 Steuart Street in San Francisco’s financial district on the Embarcadero and offers stunning views of the San Francisco Bay. The hotel is proximate to many downtown attractions including the Ferry Building, Embarcadero Center, AT&T Park and the Moscone Convention Center. The property’s location and access to popular restaurants, shops and entertainment venues make it an attractive destination for both leisure and business travelers. Originally built in 1926, the building was extensively renovated and converted in 1991 to the Harbor Court Hotel.

The Harbor Court Hotel houses the 230-seat, upscale, contemporary Japanese Restaurant “Ozumo,” which is leased to a third-party restaurateur and open for lunch and dinner. Ozumo was created in May 2001 and has been very successful since opening.

“We are very excited to have acquired these two well-located assets in one of the strongest markets in the United States,” said Michael D. Barnello, President and Chief Executive Officer of LaSalle Hotel Properties. “After exceeding cyclical prior peak demand in 2011, the market continues to grow. We are equally encouraged by the very limited supply growth slated for the next several years.”

Hotel Triton

Hotel Triton is a 140-room hotel located at 342 Grant Avenue in the Union Square neighborhood of San Francisco. The hotel is close to the Financial District, less than a mile away from Moscone Convention Center and sits at the gateway to Chinatown. The building was originally constructed in 1912 and was converted to a hotel in 1991. In 2012, the property completed a guestroom renovation.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs