Executives of The Saunders Hotel Group have purchased the former John Hancock Hotel and Conference Center in Boston’s Back Bay and are considering redeveloping it into a boutique hotel, according to industry sources.
A joint venture of Gary and Jeffrey Saunders and Jordan Warshaw purchased the 40 Trinity Place property for $22.55 million from John Hancock Mutual Life Insurance Co. in December, according to information obtained from The Warren Group, publisher of Banker & Tradesman.
Saunders representatives declined direct comment, though they did submit a prepared statement through a public relations firm.
“We are … excited to own this property for many years to come and look forward to creating another signature building in Boston’s Back Bay,” the statement said.
Industry sources said the company is looking to create a boutique hotel at the site. Plans for the height and massing of the property are still unknown. Even so, sources told Banker & Tradesman the company is planning “a pretty extensive redevelopment” of the location.
Karen Whitman, director of development for Hilton Hotels, confirmed she had initial conversations with Saunders about bringing a select-service Hilton Garden Inn to the site, but said the owners have since indicated they are more interested pursuing a boutique project.
Even so, she said she has heard they are considering everything from conversion into a boutique hotel to tearing the property down and adding residential to the site.
“It would be a tough product to convert because the rooms are extraordinarily small,” Whitman told Banker & Tradesman.
The Saunders group has quite a record of hotel development in the city. Among other projects, the firm was selected by the City of Boston to redevelop the former Boston Police Headquarters at 350 Stuart St. into a four-star hotel, and in 2001 entered into a long-term ground lease with Jurys’ Doyle Hotel Group of Dublin. The hotel group has owned and operated the Lenox Hotel on Boylston Street for more than 48 years.
After the Saunders joint venture bought 40 Trinity in December, the hotel became the Boston Common Hotel & Conference Center. The property was built in 1925 as the Club House for the University Club of Boston, according to the hotel’s website. The Club House was eventually sold in August 1962 to the Chandler School for Women.
In 1971, the Chandler School for Women resold the building to the John Hancock Mutual Life Insurance Co. The building was closed for renovations from January 1986 to September 1986, after which the John Hancock Conference Center was open to the public for both for meeting space and guest rooms.
