Business: Sheraton Adds a Link

San Franciscans braced themselves last week for the city's first invasion by a major hotel chain, and no native regretted the change more than a shy little lady in her 705. She was Mrs. William B. Johnston, president and majority stockholder of the famed, Victorian-flavored Palace Hotel, which is being taken over by Boston's Sheraton Corp. Said Mrs. Johnston, who was born in the Palace and whose family has owned the hotel all its 79 years: "It's the trend of the times, isn't it? All the great old hotels are going into chain operations."

There was no mistaking the trend (TIME, Dec....

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