LOS ANGELES—Urban Commons announced the purchase of the 110-room Comfort Inn and the 110-room Holiday Inn in San Mateo, Calif. The hotels are located in the high-tech enclave of Silicon Valley which surrounds the San Francisco Bay Area.
Urban Commons will be converting and merging the Comfort Inn into the Holiday Inn brand to create a superior product for the market by enlarging the current Holiday Inn from 110-rooms to 220-rooms. Urban Commons will also renovate and transform the Comfort Inn’s lobby and breakfast areas into additional meeting space, approximately doubling the space currently available. The Holiday Inn San Mateo-San Francisco SFO and the Comfort Inn Airport South hotels are located on one parcel of land and currently offer a restaurant and lounge, 2,600 square feet of interior meeting space, two business centers, two exercise facilities, free Wi-Fi access, and complimentary shuttle service to the San Francisco International Airport.
Since 2011, Urban Commons has completed eight hotel acquisitions totaling over $220 Million in asset value. The company targets distressed, bank-owned, and value-add opportunities where they see the greatest growth potential and upside opportunity for their investors.