Value of San Diego Hotels Sold in 2019 Surges More Than 80 Percent
Value of San Diego Hotels Sold in 2019 Surges More Than 80 Percent
The San Diego Union-Tribune
02/24/20
Value of San Diego Hotels Sold in 2019 Surges More Than 80 Percent
Hyatt Regency hotels on Mission Bay and at the Aventine were the priciest sales last year
By Lori Weisberg
San Diego’s hotel real estate market, defying predictions of a slowdown a year ago, remains strong following a more than 80 percent increase last year in the total dollar volume of sales transactions.
In all, 20 hotels, accounting for more than 4,100 rooms, changed hands in 2019, according to a year-end report prepared by Orange County-based Atlas Hospitality Group, which tracks the California hotel market. While there were seven fewer transactions last year than in 2018, the total number of rooms encompassed by the sales was double the number of a year earlier.
Leading the sales last year in San Diego, by total number of rooms, were the 1,053-room Sheraton San Diego Hotel & Marina on Harbor Island, the 438-room Hyatt Regency Mission Bay, and the 417-room Hyatt Regency La Jolla at Aventine. Even with the relatively robust sales volume, it was still far off the last decade’s peak, in 2011, when more than 40 hotels sold for a collective value of nearly $2 billion, compared with last year’s more than $760 million in sales…
