The Park Central San Francisco in the South of Market neighborhood is reopening as a Hyatt Regency after $70 million of renovations.
The hotel, at 50 3rd Street, is slated to open this spring under the management of Morgan Stanley-owned Highgate, according to a Hyatt news release. Built in 1984, it had previously been a Westin and, before that, an ANA hotel, according to SFGate. San Francisco has three Hyatt Regency hotels, with the SoMa one the closest to the Moscone Convention Center.
San Francisco hotels were among the hardest hit during the pandemic. Hotel rates had sunk by almost 60 percent to $92 a night, while also suffering the deepest decline in occupancy since October 2019 along with Oahu, according to data from CoStar subsidiary STR.
The Hyatt Regency will have 20 executive corner suites, two presidential suites and 686 guest rooms. It will also have an enhanced fitness studio with Peloton bikes, a full-service lobby bar and a chef-driven restaurant. In addition, it will display commissioned artwork from students and alumni of the Academy of Art University throughout the hotel’s ground floor, as well as other spaces.
“The hotel worked closely with BHDM Design and the university to commission artwork from select students and alumni in a variety of mediums, including sculpture, digital motion graphics, photography, mixed media, painting, drawing, and landscape architecture,” Hyatt said in the release.
The Downtown San Francisco Hyatt Place located at 701 Third Street recently sold for more than $105 million to Provo, Utah-based Dynamic City Capital. The 12-story property features 230 rooms, 4,300 square feet of retail space and 24/7 market.
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