Parc 55 San Francisco
| Company type | Hotel |
|---|---|
| Industry | Hospitality |
| Founded | 1984 |
| Headquarters | San Francisco , United States |
Area served | San Francisco, California |
| Owner | Hilton Worldwide (since 2015) |
Parc 55 San Francisco - a Hilton Hotel is a high-rise hotel located in the Tenderloin, San Francisco, California.
History
Originally launched in October 1984 as the upscale branch of Ramada Inns, the property was known as the Ramada Renaissance Hotel. In 1989, it was acquired by Park Lane Hotels, an Oakland-based developer led by Larry Chan, and subsequently renamed the Parc Fifty Five Hotel. Following the separation of Renaissance Hotels from Ramada and its acquisition by Marriott in 1997, the hotel was rebranded on April 30, 1998, as the Renaissance Parc 55 Hotel, representing Marriott's milestone 1500th global property. In 2006, ownership transferred to Boston’s Rockpoint Group and Dallas’s Highgate Holdings for $170 million. The hotel exited Marriott’s portfolio in January 2007 and adopted the name Parc 55 Hotel. It became part of Wyndham Hotels in April 2010 under the title Parc 55 Wyndham San Francisco - Union Square. A 75% ownership share was purchased by The Blackstone Group in 2012.
In February 2015, Hilton Worldwide acquired the hotel, rebranding it as Parc 55 San Francisco - a Hilton Hotel. By 2018, the building's valuation reached $512.2 million. Due to challenges such as elevated office vacancy rates in San Francisco, street conditions, and a decline in convention activity, Park Hotels & Resorts, a real estate investment trust spun off from Hilton Worldwide, handed over Parc 55 along with the adjacent Hilton San Francisco Union Square to lender JPMorgan Chase in June 2023. Subsequently, Wilmington Trust, representing mortgage holders, appointed Hotel Value Asset Enhancement as receiver for both hotels in October 2023. The initial plan was to sell the properties within an eleven-month timeframe; however, this deadline was extended through a court order. After several postponements, New York-based firms Newbond and Conversant reached an agreement to acquire both hotels in September 2025.