Oracle Hospitality buys San Mateo Marriott

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.”

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

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.

Suggested Articles

Here’s what you need to know about a variety of financing options to consider in today’s environment as you move to finance your next project.

The company, in partnership with American Express, will donate up to 1 million hotel roomnights across the United States through May 31.

Moves include accessing an additional $100 million on the company’s $250 million senior revolving line of credit and cost containment.