Hotel Vitale: LaSalle to snatch up Hotel Vitale for $130 million

Continuing its domination of the San Francisco hotel market, LaSalle Hotel Properties is set to buy San Francisco’s Hotel Vitale for $130 million. In its fourth quarter earnings report released last week, the Bethesda, Md.-based investment trust said it was under contract to acquire the 200-room waterfront hotel on the Embarcadero, pending city approval. At $650,000 per key, the sale would be one of the largest hotel deals in San Francisco within recent years and LaSalle’s sixth property in…