Eleven months from the sale to the reopening
Park Hotels & Resorts announced the closing of the sale of the Hyatt Centric Fisherman's Wharf in May 2025. The price was $80 million, or $253,000 per key, and Park put the sale at 64.0 times the hotel's 2024 EBITDA. The proceeds went to return-on-investment projects across the portfolio.
The hotel announced the completed renovation on 15 April 2026. The room count held at 316 across the sale and the work.
Park's chairman and chief executive, Thomas J. Baltimore Jr., said the company was working toward $300 million to $400 million of non-core disposals in 2025 and had sold or disposed of 46 hotels for over $3 billion since 2017.
What the cycle bought
The renovation covers all 316 guest rooms and suites and more than 19,000 square feet of meeting and event space. The operator ran the work with MindClick and published a materials schedule: wall coverings, carpeting, carpet padding, paint and furnishings, all low in volatile organic compounds and free of formaldehyde and bisphenols. The carpet padding is repurposed construction waste, and the packaging is plant-based and styrofoam-free.
Hoodline reported a ballroom and a large prefunction area configured for conferences, receptions and breakouts, and read that space as a route to weekday demand on a leisure-led waterfront.
The outlets decide the capture
Sage Hospitality Group took on management of the hotel in February 2025. Sage Restaurant Concepts manages the property's two full-service restaurants, Brick & Beam and The Wardroom. Brick & Beam is the signature restaurant and bar, with sustainably sourced seafood in a brick-and-steel setting. The Wardroom serves breakfast, and The Market handles grab-and-go.
Two full-service restaurants sit inside a district of competing restaurants. An operator pricing food and beverage capture against a 316-key base has the outlet names and no outlet economics. The published record carries no menu pricing, no cover counts and no sales mix.
The rate position at the Wharf
No room rate for the hotel appears in the published coverage. The hotel is advertising renovation-era rates and group packages for the rest of the year, which tells an operator the property is buying occupancy while the new product settles into the market.
The district is moving at the same time. Hoodline reported the longtime Alioto's site coming down for a new plaza, with streets, storefronts and public spaces under review.
What the record stops at
No renovation cost is published. Hoodline attributes a "multimillion-dollar" investment to the San Francisco Business Times, and LODGING Magazine describes a multi-million dollar, multi-phase project. No construction start date is published, so the completion announcement stands as the start of record.
For an operator weighing a comparable cycle, the usable sequence is management in February 2025, ownership in May 2025, completion in April 2026, and a room count that never moved.