+- Harlforum : Harl Forum, Real Estate Forum, Real Estate Forum India, Buy or Sale or Discuss about Real Estate and Traveller and Hotel Reviews (https://www.harlforum.com/harlforum)
+-- Forum: Hotel & Resorts (https://www.harlforum.com/harlforum/forum-15.html)
+--- Forum: Hotels (https://www.harlforum.com/harlforum/forum-10.html)
+--- Thread: ORACLE ELLISON BUYS HOTEL (/thread-50.html)
ORACLE ELLISON BUYS HOTEL - TEAM HARLFORUM - 09-16-2015
Oracle Co-Founder Larry Ellison’s PA Hotel Holdings LLC has acquired the 86-room Epiphany Hotel in downtown Palo Alto from private equity firm Angelo, Gordon & Co. for a reported US$71.6 million. The hotel opened last year and is managed by Commune Hotels & Resorts’ Joie de Vivre brand, and is expected to remain as such, according to reports. Demand for Palo Alto hotel rooms has been very robust this year with several new hotels under development, including two Hiltons and a Westin. Ellison, with an estimated worth of US$50 billion, according to Forbes, in 2012 acquired the Hawaiian island of Lanai, as well as its two high-profile hotels there – The Lodge at Koele and Manele Bay, both managed by Four Seasons.