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Westin may check out of Back Bay

Report: Copley Place hotel on market with $500M target price

Jonathan Ng Thursday, October 18, 2018
PREMIUM PROPERTY: The Westin Copley Place, said to be up for sale, underwent a full renovation last summer. Staff photo by Stuart Cahill

Credit: Stuart Cahill

PREMIUM PROPERTY: The Westin Copley Place, said to be up for sale, underwent a full renovation last summer. Staff photo by Stuart Cahill

The swanky Westin Copley Place Hotel in Boston’s Back Bay reportedly is up for sale and could attract bids upwards of $500 million, according to real estate publication Real Estate Alert.

Maryland-based company Pebblebrook Hotel Trust will take ownership of the property following the $5.2 billion merger with Chicago-based LaSalle Hotel Properties, which owns the Westin Copley, as well as the Hyatt Boston Harbor, the Liberty Hotel, and the Onyx Hotel in Boston. The acquisition is expected to be finalized in late November. Pebblebrook has begun marketing the Westin Copley while awaiting the merger’s finalization, according to Real Estate Alert.

Eastdil Secured, a real estate investment banking company owned by Wells Fargo, will carry out the sale of the property.

Last summer, the Westin Copley renovated 803 guest rooms and suites with custom decor featuring Boston landmarks. Pebblebrook expects to sell the hotel for at least $500 million, or $623,000 per room, Real Estate Alert reported.

“We’re excited to reveal new rooms that call to mind the spirit and culture of the city,” Westin Copley general manager Ray Hammer said in a statement last summer. “These revitalized spaces offer a place where guests can recharge after a day spent exploring Boston and the surrounding neighborhoods.”

The Westin Copley Place is connected by walkways to the Hynes Convention Center and the Copley Place and Prudential Center mall. 

The hotel, which is operated by Marriott, is one of seven in Boston where workers went on strike to demand higher wages as part of a nationwide movement. Unite Here Local 26, which represents hotel workers in Massachusetts, said it found out about the sale yesterday.

“We hope that any potential buyer knows that there is an ongoing dispute with Marriott,” said Carlos Aramayo, the union’s financial secretary-treasurer. “It is the decades of experience of our members that have maintained Westin’s standards.”

Representatives from Pebblebrook and LaSalle declined to comment on the deal.

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