The famous Fairmont San Francisco hotel on Nob Hill has been sold to Oaktree Capital Management and Woodridge Capital Partners, according to Bloomberg. The price: a cool $200 million.
Oaktree Capital Management and Woodridge Capital Partners purchased the hotel, but the property will continue being managed by Fairmont Hotels & Resorts. According to the San Francisco Chronicle, the previous owners agreed to sell the hotel after unsuccessfully attempting to convert about half of the property into residences.
The 105-year-old hotel, designed in part by Julia Morgan, has hosted celebrities, the United Nations and socialites from around the world, and has been featured in movies including The Rock, Vertigo and North by Northwest. It was added to the National Register of Historic Places in 2002.
But perhaps most importantly (at least to HuffPost SF) the Fairmont is home to the Tonga Room, the Bay Area's sticky sweet and delightfully tacky ode to tiki. (Fun fact from the good people at the Fairmont! Before the Tonga Room was the Plunge - a socialite-studded pool that operated from 1927 to 1945. Now the Plunge is the famous Tonga Room pool and the stage for the floating band.)
Check out photos of the hotel over the past 105 years in our slideshow below courtesy of the Fairmont San Francisco: