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US: HVS Capital has been appointed to sell the Hotel Durant in Berkeley, California.
The 143-room property is adjacent to the University of California at Berkeley, within walking distance of all student housing, the newly renovated football stadium and the basketball arena.
Designed by William Weeks, the hotel first opened in 1928 and is named after Henry Durant, was the first president of the University of California at Berkeley and a former mayor of Oakland.
It underwent a $7 million renovation in 2007, becoming Berkeley’s first eco-certified boutique hotel and hosting its first modern gastro pub and restaurant.
Bill Sipple, managing director of HVS Capital Corp, said: “There is a limited amount of lodging supply in Berkeley, high barriers-to-entry, and no hotel is closer to the University than the Hotel Durant. The Hotel Durant and its competitive set have experienced double digit RevPAR growth for the last 33 months. With the $321 million renovation of California Memorial Stadium now complete, East Bay hotels should continue to thrive.”
The Hotel Durant is managed by Joie de Vivre Hospitality, and it is anticipated they will continue in this role after any sale.
www.hvscapital.com
hoteldurant.com
