Stoa Lodging acquires San Diego’s Hotel Z for multimillion-dollar rebranding

Stoa Lodging has acquired the pineapple-themed Hotel Z in San Diego’s Gaslamp Quarter for $25.2 million. The purchase price represents a significant decline from the $34.5 million the property commanded in 2015.

The Portland-based investment firm plans a multimillion-dollar renovation to transform the 96-room property into the Stellen San Diego Gaslamp. Expected to debut by March 2027, the project will increase the room count to 100, modernize the building’s exterior and lobby, and introduce the hotel’s first food-and-beverage operation, including a lobby cafe.

Under the new ownership, the hotel will join the Series by Marriott portfolio, integrating the property into the Marriott Bonvoy loyalty and distribution network. Stoa Lodging founder Taylor Jacobs described the acquisition as a value-add opportunity driven by the hotel’s prime location.