Ashford Hospitality unloaded property to Singerman for $149K per key
Sep 14, 2026, 4:06 PM PDT By
Another East Bay hotel has traded hands as the local lodging market continues to navigate rough waters.
Chicago-based Singerman Real Estate, acting through an affiliate, acquired the 357-room Fremont Marriott Silicon Valley for $53 million, Mercury News reported. Texas-based Ashford Hospitality Trust was the seller, offloading the property more than a decade after buying it in 2014 for $50 million, or nearly $70.8 million when adjusted for inflation.
The 10-story hotel at 46100 Landing Parkway traded for approximately $148,500 per key, placing 7.3 percent above the median price per room for hotels sold in California last year, according to Atlas Hospitality Group data cited by Mercury News. That said, the per-room price is slightly below the California median two years ago which was $149,200 per key.
“We have not seen prices this low for hotels even in other downturns such as the recession,” Atlas Hospitality President Alan Reay told Mercury News, saying properties like the Fremont Marriott are “the product type for which [observers] are seeing big price discounts.”
The Fremont Marriott’s per-room price is 85 percent below how much it would cost to replace, with Reay estimating each room would be upward of $1 million to build. SIGN UP
“Ashbord has been under pressure to free up capital,” Reay said, noting that the company is also trying to sell another Bay Area property with the Hilton Santa Cruz/Scotts Valley in Santa Cruz.
The Fremont Marriott wasn’t distressed at the time of sale, unlike many hotel sales in the East Bay and beyond in recent years as lodging properties racked up loan defaults, bankruptcies and foreclosures.
Last year, a 276-room dual-brand hotel at 1431 Jefferson Street in downtown Oakland was seized via a deed-in-lieu of foreclosure of a $112 million loan. A few months later, Oakland’s largest hotel, the 500-room Oakland Marriott City Center in downtown Oakland, was seized by its lender in a $70.2 million foreclosure, with that deal working out to $140,400 per room.
— Chris Malone Méndez