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Article: KIMCO HOTEL & RESTAURANT MANAGEMENT CO. ASSUMES MANAGEMENT OF LANDMARK SIR FRANCIS DRAKE HOTEL
- Article from:
- PR Newswire
- Article date:
- December 7, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SAN FRANCISCO, Dec. 7 /PRNewswire/ -- The historic Sir Francis Drake Hotel, located on Union Square, received new ownership on Dec. 2 and will be operated by Kimco Hotel & Restaurant Management Co. which currently manages 17 hotels and 16 restaurants on the West Coast. The new owners are the Sir Francis Drake Hotel Associates, a limited partnership. Prior to acquisition by the new owner, the hotel was closed pursuant to procedures resulting from the bankruptcy and foreclosure process.
The rejuvenated hotel will capture the traditioin while upgrading the decor and ambiance. Kimco has made a specialty of reviving run-down vintage hotels like the Sir Francis Drake. "This ...