Equinox Hospitality has acquired the Four Points by Sheraton San Rafael Marin County (Calif.) for $38 million. This acquisition marks Equinox's fifth addition to its hotel portfolio in the past year. Other terms were not disclosed.
"The potential of this property has always resonated with me, having kept an eye on it for quite some time," Adam Suleman, principal at Equinox Hospitality, said in a statement. "When it came onto the market, it felt like the perfect alignment of opportunity. Marin County is an affluent market that presents a strong demand for a hotel of this nature due to its supply constraints. The property’s strategic location—being at the heart of key sites in Marin, in proximity to San Francisco and wine country, and next door to a billion-dollar retail and development zone—lends itself to a wealth of opportunities."
The hotel has approximately 6,840 square feet of event space spread across seven ballroom and meeting rooms. The property has an outdoor pool, a restaurant and bar space and an outdoor seating area.
Equinox Hospitality is planning a renovation and rebranding of the hotel next year. The hotel will soon join the Tribute by Marriott soft brand.
"Having acquired five unique properties and executed more than $100 million in hotel deal volume in the past year, Equinox is on a determined expansion path,” Suleman said. “We are keen on solidifying our presence in existing markets and exploring new promising ones. With an optimistic view on San Francisco's rebound, we aim to expand across the Bay Area. Our strategic partnerships with the major hotel brands continue to bolster our growth, and we remain confident about unearthing valuable opportunities, especially in California and Texas, even amid some uncertainties."