The 541-room hotel at 170 S. Market St. may be listed for sale in the coming months, less than a year after BrightSpire Capital acquired it in a foreclosure transaction.
Downtown stakeholders view the potential sale as pivotal for San Jose’s post-pandemic recovery, with concerns about whether a new owner will invest or cut costs, affecting the hotel’s event spaces and local economy.
The hotel, formerly the Fairmont, has faced ongoing challenges since the pandemic, including high office vacancy rates and sluggish bookings, despite $35 million in renovations and partial conversion to student housing.
Can student housing in its former tower help save the remaining luxury hotel business?
With office towers empty, can one hotel sale truly revive downtown San Jose?
Will the iconic Signia hotel be forced to abandon luxury for budget business travel?
After a foreclosure and renovations, what is the true market value of this landmark hotel?
Is San Jose's new hotel tax scaring away the very investors needed for recovery?