The Fairmont Hotel San Francisco was put on the market last year, and new owners Woodridge Capital Partners and Oaktree Capital Management closed the deal last Tuesday. (Price tag: $200 million.) The San Francisco Chronicle reports that an additional $20 will be spent on planned renovations in the next few years. The 591 guest rooms will get a complete makeover with new carpets, bedding, nightstands, upholstery, and fresh coats of paint. The previous owners had actually attempted a large-scale renovation—and wanted to remove the historic Tonga Room bar- but ran into resistance from preservationists, neighbors, and the hotel workers' union.
An icon on Nob Hill, the hotel has been welcoming guests for 105 years. From its address at 950 Mason Street, the Fairmont San Francisco has panoramic views of the City by the Bay. For more information, visit www.fairmont.com/sanfrancisco.
Pictured: The outside terrace of the lavish Penthouse Suite- a three-bedroom hideaway that comes complete with its own billard room and a rotunda library with its ceiling painted in gold leaf to resemble the night sky.