Blackstone (BX) is on the verge of acquiring the Four Seasons hotel in downtown San Francisco, a strong vote of confidence in a hospitality market that was reeling only a couple of years ago, The Wall Street Journal’s Craig Karmin reports. The New York investment firm is expected to pay about $130M for the 277-room hotel on Market Street near Union Square and the city’s financial district, according to people familiar with the matter. A deal could be reached as soon as Wednesday, the author adds.
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