The Sale: $80 Million and a $70 Million Impairment
Park Hotels & Resorts sold the Hyatt Centric Fisherman's Wharf in San Francisco in May 2025 for gross proceeds of $80 million. The company's second-quarter 2025 filing records the figure, a net gain of about $1 million on the sale, and $75 million of net proceeds inside investing activities for the half.
The same filing carries a $70 million impairment on the hotel, recognized because the company changed its intent to hold the asset and could not recover its carrying value. The hotel's 316 keys put the gross proceeds at about $253,000 a key.
Hoodline's account, published 14 April 2026, dates Park's confirmation of the sale and the 316-room count to a 22 May 2025 release. Park's filing places the closing in May 2025 and names no buyer.
Management Changed Hands Three Months Before the Closing
LODGING Magazine reported on 11 February 2025 that Sage Hospitality Group had added the hotel to its portfolio, its second collaboration with Park Hotels & Resorts after the Hilton Denver City Center. Daniel del Olmo, president of Sage Hospitality Group, said the firm would manage the hotel on Park's behalf.
The announcement gives 316 guestrooms and suites, a 24-hour fitness facility, an outdoor heated pool and meeting and event space, and names Sage Restaurant Concepts as the manager of the hotel's two full-service restaurants, Brick & Beam and The Wardroom.
The management assignment was announced on 11 February 2025. Park's filing records the sale three months later.
The Renovation Completed in April 2026
The hotel announced the completion of a multi-million dollar, multi-phase renovation on 15 April 2026. The work covers every one of the 316 guest rooms and more than 19,000 square feet of meeting and event space, and the company describes the result as a design-forward, eco-conscious rebuild.
No construction start and no renovation budget are published. Hoodline's 14 April 2026 account attributes the multimillion-dollar description of the work to the San Francisco Business Times, and records that Cvent lists the 19,000 square foot total with the ballroom and breakout-room configurations planners can program.
The Material Schedule
The renovation ran in partnership with MindClick. Wall coverings, carpeting, carpet padding, paint and furnishings use responsibly harvested wood and repurposed elements, including wool carpeting made from renewable resources and carpet padding composed of repurposed construction waste. The materials are low in volatile organic compounds and free of formaldehyde and bisphenols, and the packaging is plant-based, recyclable and styrofoam-free.
Greg Nomura, general manager of the hotel, said San Francisco sets the tone on design and environmental stewardship and that the renovation reflects that spirit inside the guest experience. Brick & Beam serves seafood in a brick-and-steel setting, and The Wardroom serves breakfast.
What the File Holds
Three dated entries now sit in the property file. A management assignment on 11 February 2025, a sale closed in May 2025 at $80 million in gross proceeds, and a completion announcement on 15 April 2026.
Two gaps stay open. The construction start is unpublished, and the renovation cost is unpublished. The hotel's own site and the April release carry no figure for either.