Host Hotels & Resorts and Kokua Hospitality have plans to convert San Francisco’s Powell Hotel to the Axiom Hotel. The company acquired the hotel in early 2014 with the intent to transform the property 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,” says Struan B. Robertson, executive vice president and chief investment officer of Host Hotels & Resorts. “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 property is located in the heart of downtown San Francisco, two blocks from Union Square. The Powell Hotel closed at the end of December and is expected to reopen as the transformed 152-room Axiom Hotel this fall.