Downtown San Jose Signia by Hilton: In a significant real estate move, a downtown San Jose landmark, the Signia by Hilton hotel, is undergoing a transformative shift with the sale of one of its towers for San Jose State University student housing. The $73.1 million deal, executed by Throckmorton Partners, involves the southern tower of the hotel, which will be leased by SJSU. The sale, comprising an all-cash transaction, has prompted plans for substantial upgrades and new amenities in the remaining 541-room hotel.
Previously known as the Fairmont, the Signia by Hilton has seen a positive shift in occupancy levels since its reduction from 805 rooms to the current 541 rooms. Owned by a group led by business executive Sam Hirbod, the hotel aims to maintain its position as the largest and most upscale business and group hotel in Silicon Valley.
The sale of the tower not only sets the stage for vibrant SJSU student housing but also positions the Signia by Hilton for enhancements. Sam Hirbod envisions the addition of a Business Club Lounge, a new restaurant, and eventually a health spa, with the restaurant and lounge slated for the immediate plan, expected to be operational by 2024.
This strategic move aligns with the hotel’s commitment to providing top-notch services and meeting spaces. As the largest hotel in Silicon Valley, even with the reduced room count, the Signia by Hilton aims to play a vital role in the local hotel sector. The sale of the tower, coupled with the upcoming amenities, is anticipated to bring positive economic impacts to downtown San Jose and elevate the hotel’s standing in the region.
Despite the challenges faced by the hotel industry due to the pandemic, this move positions the Signia by Hilton for a promising future, contributing to the revitalization of downtown San Jose. The ongoing changes reflect a resilient approach to adapting to market dynamics, ensuring the hotel remains a prominent player in the Silicon Valley hospitality landscape.