Boston Park Plaza Sold for $370M, Rebranded as Hilton Boston Park Plaza in Historic Acquisition

The Boston Park Plaza, a historical landmark, has been purchased by Parks Hospitality Holdings for a hefty sum of $370 million, as cited in a recent publication on Boston Business Journal. The previously Sunstone Hotel Investors-owned property, housing 1,060 rooms and situated near the Public Garden, has transitioned ownership since it was last bought in 2013 for $250 million.

The Hilton Boston Park Plaza is the rebranded name following the transaction. With this new purchase, Parks Hospitality Holdings adds to their portfolio that also includes a Hyatt hotel in Vail, Colorado, their second hotel in the U.S. Sunstone had invested close to $100 million in renovations of this Boston hotel back in 2016, which covered upgrades of room interiors, lobby, common spaces and ballrooms.

Following its inception in 1927, the Boston Park Plaza holds the position of the third-largest hotel in Massachusetts in terms of room numbers, surpassed only by Sheraton Boston Hotel and Boston Marriott Copley Place, both located in Back Bay. A Bisnow report further elaborates on Hilton's presence in Boston, mentioning the Hilton at Logan Airport with 604 rooms and the Hilton Back Bay boasting 390 rooms, alongside the newly rebranded Hilton Boston Park Plaza.