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Taj Hotels Into San FranciscoApril 6, 2007 By: Travel Agent Central Contributor Travel Agent
The Campton Place Hotel in San Francisco will now fly a Taj Hotels flag. Kor Hotel Group has announced it is selling the 110-room landmark property, constructed in 1909, to Taj for the sum of $58 million. Kor originally purchased the hotel 18 months ago for $44 million. The addition of Campton Place bumps Taj's U.S. inventory up to three hotels-its two other properties are the Taj Boston and The Pierre in New York. While Kor Group CEO, Brad Korzen, says the deal was made to cash in on the property's value, Kor is also turning more of its attention toward growing two of its other brands-Viceroy and Tides-overseas. On Thursday, the hotel group announced the expansion of its Tides brand to Mexico with The Tides Riviera Maya and Tides Playa del Carmen opening soon. Conversely, Taj is seeking to up its presence in the U.S. markets. "With the acquisition of The Campton Place, we can now offer business and leisure travelers our signature Taj hospitality in the top U.S. gateways of New York, Boston and San Francisco," said Ray Bickson, CEO and managing director of Taj Hotels.