Divestiture • Restaurants

Pebblebrook Hotel Acquires The Westin San Diego Gaslamp Quarter

On April 6, 2011, Pebblebrook Hotel acquired restaurant The Westin San Diego Gaslamp Quarter from Starwood Hotels & Resorts Worldwide for 110M USD

Acquisition Context
  • This is Pebblebrook Hotel’s 1st transaction in the Restaurants sector.
  • This is Pebblebrook Hotel’s 4th largest (disclosed) transaction.
  • This is Pebblebrook Hotel’s 1st transaction in the United States.
  • This is Pebblebrook Hotel’s 1st transaction in California.

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M&A Deal Summary

Date April 6, 2011
Target The Westin San Diego Gaslamp Quarter
Sector Restaurants
Buyer(s) Pebblebrook Hotel
Sellers(s) Starwood Hotels & Resorts Worldwide
Deal Type Divestiture
Deal Value 110M USD

Target Company

The Westin San Diego Gaslamp Quarter

San Diego,, California, United States
The hotel offers 450 guest rooms, including eight suites, and more than 27,000 square feet of indoor meeting space including a 9,000 square foot ballroom and outdoor function space.
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Buyer Overview 1

Buyer

Pebblebrook Hotel

Bethesda, Maryland, United States

Category Company
Founded 2009
Sector Real Estate
Employees60
Revenue 1.5B USD (2024)
DESCRIPTION

Pebblebrook Hotel is a publicly traded real estate investment trust (“REIT”) organized to opportunistically acquire and invest primarily in upper upscale, full service hotels located in urban markets in major gateway cities. Pebblebrook Hotel was founded in 2009 and is based in Bethesda, Maryland.


Deal Context for Buyer #
Overall 1 of 5
Sector: Restaurants 1 of 2
Type: Divestiture 1 of 2
State: California 1 of 3
Country: United States 1 of 5
Year: 2011 1 of 1
Size (of disclosed) 4 of 5
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-23 W Los Angeles - Westwood Hotel

Los Angeles, California, United States

W Los Angeles is a full-service, luxury property with 258 modern, spacious suites a SWEAT state-of-the-art fitness center, a 7,000 square foot Bliss Spa. The Backyard restaurant and WET, a heated outdoor pool and the acclaimed NineThirty restaurant.

Buy $125M

Seller Profile 1

SELLER

Starwood Hotels & Resorts Worldwide

Stamford, Connecticut, United States

Category Company
Founded 1969
Sector Leisure
Employees180,400
Revenue 5.8B USD (2015)
DESCRIPTION

Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company with more than 1,270 properties in some 100 countries and over 180,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis, The Luxury Collection, W, Design Hotels, Westin®, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, Element, and the recently introduced Tribute Portfolio™. Starwood was formed in 1969 and is based in Stamford, Connecticut.


Deal Context for Seller #
Overall 4 of 21
Sector: Restaurants 3 of 12
Type: Divestiture 4 of 21
State: California 1 of 4
Country: United States 1 of 13
Year: 2011 1 of 2
Size (of disclosed) 9 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-06-13 The Westin Europa & Regina Venice

Venezia, Italy

The Westin Europa & Regina, Venice provides accommodation, leisure, dining, and entertainment services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-10 W Chicago City Center

Chicago,, Illinois, United States

W Chicago City Center is a full-service, luxury property with modern guestrooms and suites, more than 12,000 square feet of meeting and event space, a SWEAT state-of-the-art fitness center, and the recently renovated IPO restaurant.

Sell $129M