Gemstone Buys Hotel Durant, Plans Other Deals

Gemstone Buys Hotel Durant, Plans Other Deals

BERKELEY, CA—Gemstone Hotels & Resorts has purchased the 144-room Hotel Durant, which is located adjacent to the University of California Berkeley.

The hotel is at 2600 Durant Dr. The property includes the restaurant Henry’s. Laptop safes, iPod docking stations, and certified organic robes round out the amenities. Graduate floor rooms feature a concierge-style lounge serving a daily, complimentary breakfast and wine hour. The purchase price was not disclosed.

Thomas Prins, principal at Gemestone, said in a statement that the deal was signed and closed in just 30 days. . “A boutique hotel set amidst a vibrant university campus meshes perfectly with the rest of our portfolio and allows us to meet the needs of our guests for an intimate, luxury experience in the greater San Francisco area,” Prins said. “We aggressively are pursuing other equity-based deals and are positioned to act quickly in the future when we can acquire and add immediate value. For 2013, we are optimistic that our active pipeline will yield some exciting hotels in excellent locations.”

Park City, Utah-based Gemstone’s portfolio of major market boutique hotels also includes Maison 140 in Beverly Hills, Calif.; the Mosaic in Los Angeles, the Copley Square Hotel in Boston and the Carlton in New York.

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