Highgate's decision to forfeit the Hyatt Regency SoMa while managing the Line Hotel indicates a strategic pivot amid ongoing fluctuations in San Francisco's hotel sector.
After recently filing a deed-in-lieu of foreclosure, Highgate transferred ownership of the Hyatt Regency to its lender, effectively forgiving approximately $290 million in debt.
Despite relinquishing one property, Highgate continues its involvement in the San Francisco hotel market by managing the Line Hotel, which has gained acclaim since its opening.
The Hyatt Regency in SoMa, after a $70 million renovation in 2022, was recognized by San Francisco Magazine as one of the top hotels in the city.
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