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Hotel Market Starts To Stir

February 5, 2010 - The San Francisco Business Journal

The year has opened with a flurry of Bay Area hotel sales.

This week, JP Sethi closed on the Sheraton Pleasanton Hotel, which was in foreclosure, and SIMA Corp. in Santa Barbara placed the winning $11.4 million bid to buy Sausalito’s 63-room Casa Madrona Hotel at auction.

In late January, a group represented by Abacus Lodging Investors, which also is a minority owner, bought the 220-room Tuscan Inn in Fisherman’s Wharf from Kimpton Hotels.

The burning question is whether these sales are part of a larger, positive trend that the market is again moving, or if the transactions are mere coincidence.

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