The Marriott Hotel in San Mateo, Calif., now has a new owner. Oracle Corp., a technology developer noted for its Opera cloud-based PMS services used in hotels, purchased the property for $132 million in part for use in training staff in direct sales.
The 476-room hotel is Oracle’s first property, and it will continue to operate as a Marriott and be open to the public for bookings. Oracle plans for a large-scale renovation to work over the property, and also plans for future hotel acquisitions.
“We were finding it more and more difficult to find space to conduct our training,” said Mike Bangs, Oracle’s VP for headquarters real estate and facilities. “We generally hire college graduates and train them for two to three weeks.”
The property was purchased through Oracle’s wholly owned subsidiary Hospitality Investment. Atrium Plaza was the property’s previous owner, and Evolution Hospitality will continue to operate the hotel under a long-term franchise license agreement that will remain transferable if Oracle decides to sell the property.
The hotel has contracts with airlines, who use the property house crews, and Oracle also plans on using the property to host company events. Oracle’s headquarters is located roughly four miles away from the San Mateo Marriott.