5-things

5 Things to Know: California Hotel Pricing Climbing Up, but Pace Down

HotelNewsNow
08/18/16

5 Things to Know: California Hotel Pricing Climbing Up, but Pace Down
By the HNN editorial staff

http://www.hotelnewsnow.com/Articles/64369/5-things-to-know-18-August-2016
California hotel pricing climbing up, but pace down: Atlas Hospitality Group released its “2016 Mid-Year California Hotel Sales Survey,” which shows that sales were off in the first quarter of 2016.

Total dollar volume fell 56% for the first half of the year compared to the same period in 2015, and individual transactions were down 17%.

Hotel sales values in California climbed in the first half, though, and the median price per room increased 11.3%. This was off from the record-breaking growth pace of 2015, which had a median price per room increase of 25%.

Atlas reports that buyers’ attitudes can be summarized as “cautious,” so far this year because there are concerns that hotel values have peaked.

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