EOS Investors buys again in San Francisco

SAN FRANCISCO — New York City-based EOS Investors has acquired its third San Francisco hotel in three years, according to a story in the San Francisco Business Times.

EOS Investors is acquiring the debt-distressed The Barnes San Francisco, Tapestry Collection by Hilton in San Francisco from an affiliate of New York City-based AWH Partners and San Francisco-based Roxborough Group for an undisclosed amount.

The 189-key hotel, formerly known as the Villa Florence, reopened in 2023 after extensive renovations, but became at risk of foreclosure when its owners defaulted on a $68 million loan late in 2024.

This would be EOS Investors third San Francisco hotel in three years, following its acquisitions of two hotels in the Fisherman’s Wharf area from two REITs — the 221-key Hotel Zoe from Pebblebrook Hotel Trust for $68.5 million in 2023 and the 316-key Hyatt Centric Fisherman’s Wharf from Park Hotels & Resorts for $80 million in 2025.

EOS Investors founder and chairman Jonathan Wang spoke with Hotel Investment Today in January for a video interview at the America’s Lodging Investment Summit (ALIS) in Los Angeles, discussing the company’s strategy and bullish outlook for San Francisco.

“Once interest rates rose in a post-COVID environment, we actually saw tremendous stress forming in most of the urban markets, none more documented, I'd say, than San Francisco,” he said. “We bought our first hotel in San Francisco about 18 months ago, and followed that up with the Hyatt Centric about a year later.

“What we started to see there was the ability to buy hotels with the most conservative underwriting that we could out of any of the urban markets and we could start to see green shoots forming politically and in the business environment. That started to lead to what has been, over the last 12 months, the fastest-growing market in the country. We think that's going to persist for the next couple of years.”

It stands to reason that EOS’s purchase price for the Barnes hotel could be a steep discount to the $87.5 million AWH and Roxborough paid in 2021.

San Francisco has been the fastest-growing market in the U.S. over the past year, with RevPAR rising 10.6% on a 12-month basis through November 2025. Hotel values in the city have also been recovering after bottoming out in the middle of last year.