BETHESDA, Md.—Host Hotels & Resorts and Kokua Hospitality announced today that The Powell Hotel in San Francisco will be converted to a new independent identity and renamed the Axiom Hotel. The company acquired the hotel in early 2014 with the intent to transform the hotel and has selected Kokua Hospitality as the operator.
“We are excited to unveil the new name, Axiom Hotel, marking the beginning of a significant transformation that will create meaningful value in this asset. The hotel was acquired as part of our strategy of narrowing our investment markets, primarily focusing on gateway cities and urban and resort/conference markets, while establishing a deeper foothold in those markets by expanding our investments to include upscale properties that may be operated by an independent manager or without a major brand affiliation. The Axiom Hotel is a great example of this strategy,” said Struan B. Robertson, executive vice president and chief investment officer of Host Hotels & Resorts.
The property is located in the heart of downtown San Francisco, two blocks from Union Square, three blocks from the Moscone Convention Center, and steps from the cable car turnaround. The Powell Hotel closed at the end of December and is expected to reopen with 152 rooms as the transformed Axiom Hotel in the fall of 2015.
“We are extremely excited to begin the renovation of the Axiom Hotel” said Phil Tufano, chief operating officer of Kokua Hospitality. “Just steps away from the action, the hotel’s innovative expression will exude the historic and energetic elements of San Francisco’s arts, music, and culinary scene all for our guests to savor. High tech customized amenities will allow our guests to explore and stay productive. Lively yet warm, hospitable service is sure to capture the savvy tourist and business traveler.”
