SAN FRANCISCO—LaSalle Hotel Properties closed a deal Wednesday to buy the Hotel Vitale for $130 million.
The San Francisco Business Times reports that the 200-room hotel is the sixth property in San Francisco acquired by Maryland-based investment trust. The Times quoted a former Hotel Vitale owner and longtime hotelier Chip Conley.
According to the report, Conley says the management contract will stay with Joie de Vivre, which Conley founded, and parent company Commune Hotels & Resorts.
The sale follows three acquisitions LaSalle made last year, including the Hotel Serrano, the Harbor Court and Hotel Triton.
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