Another hotel deal is on the books in San Jose. SJ 1st Street Hotel, an entity controlled by True North Management, bought a Holiday Inn north of downtown San Jose for about $62M in cash from Aju Hotel San Jose, The Mercury News reports. Aju originally paid about $53M for the hotel in 2015.
The 354-room hotel is at 1350 North First St. and is on the light rail line and near the San Jose airport. The Holiday Inn is often frequented by business travelers.
This latest deal is one of several within the last few months, including Aju’s purchase of the Westin San Jose for $64M and Blackstone Group’s purchase of Hyatt Place for $62M.