The restaurant was set to be demolished along with the hotel's 23-story tower to make room for a new 26-story tower that will become the home of 160 high-priced condos.
But fans of the Tonga Room stepped up to try and save it from going under. When attempts to designate the room as a historic site fizzled, supporters looked for alternatives.
It was reported Thursday that the hotel, where the Tonga Room is housed, has a letter of intent "with a local successful restaurateur who will buy the Tonga Room and move it to a new, as-yet-undetermined site." But the identity of the mystery buyer was not known.
A day letter, Inside Scoop peeled back the mask to unveil Peter Scully, a partner in Bin 38, the Republic and Broadway.
Scully says he has signed a letter of intent to take over the Tonga Room and if he gets final approval from the City. He would like to move the bar to a yet-to-be determined location and keep it as in tact as possible.
The San Francisco Planning Commission won't meet on the matter until January 2011.