GEM Realty Capital buys California resort for $100M

Biggest hospitality deal in San Diego area this year JUL 29, 2023, 1:00 PM By TRD Staff In what stands as the region’s largest — and California’s third-largest overall — hospitality deal this year, Chicago-based investment firm GEM Realty Capital bought The Inn at Rancho Santa Fe, a luxurious resort in an affluent enclave near San Diego,…

Read More

Where are all the new hotels in San Diego?

So far this year, just one new hotel in the county has opened — in downtown San Diego BY LORI WEISBERG AUG. 4, 2023 5:40 AM PT The pace of hotel openings across San Diego continued to be sluggish during the first half of this year, with just one hotel — in downtown San Diego — making…

Read More

California saw 31% fewer hotel openings this year

20 hotels opened during the first half, 46% fewer than the average pace of 2018-21 AUG 2, 2023, 5:26 PM By TRD Staff Hotel California has become Hotel Terminus, with a steep decline in new hospitality suites across the state.  In the first six months of the year, 20 new hotels opened across the Golden State,…

Read More

After $221 million sale, this downtown S.F. hotel will be the only new opening of 2023

Roland Li Aug. 2, 2023 Updated: Aug. 2, 2023 9:43 a.m. San Francisco’s only new hotel of 2023 is opening in September in the heart of the Financial District, in a major bet on the continued recovery of tourism and business travel. Owner KHP Capital Partners is rebranding the former Le Méridien hotel at 333 Battery St. as…

Read More

California hotel owners pull back, cut openings by half

‘We are forecasting a big decline,” says Atlas Hospitality By JONATHAN LANSNER | jlansner@scng.com | Orange County Register PUBLISHED: August 1, 2023 at 11:01 a.m. | UPDATED: August 2, 2023 at 8:32 a.m. “Crash, correction or chill” looks at economic and real estate trends that offer hints about the depth of housing’s troubles. Buzz: Building new hotels in California is no longer a…

Read More

Bay Area, state see steep decline in new hotels in 2023

By Alex Barreira – Staff Reporter, San Francisco Business Times Aug 1, 2023 – Updated Aug 1, 2023 5:11pm PDT The seeming torrent of new hotel supply that hit the California market in 2021 and 2022 after Covid delays is petering out in the Bay Area and throughout the state, a new hospitality research report suggests. Through the…

Read More

California Hotel Openings Drop in First Half of Year

Projects Entering Construction Phase Expected To Decline Over 18 to 24 Months By Bryan WrotenHotel News Now July 31, 2023 | 6:13 AM Fewer hotels opened in California in the first half of 2023 compared to last year, according to a new survey. Atlas Hospitality Group’s California Hotel Development Survey 2023 Mid-Year shows that 20 hotels…

Read More

Taylor Swift is about to boost L.A.’s economy. Striking hotel workers want her to stay away

BY CARLY OLSON, SUHAUNA HUSSAIN, HELEN LI JULY 27, 2023 4:11 PM PT Ticket prices aren’t the only eye-popping expense that comes with seeing Taylor Swift perform selections from her 10-album career on the final leg of her record-breaking Eras tour. With her six Los Angeles shows drawing fans from all over the Southwest, hotels near SoFi Stadium and around the city…

Read More

Rancho Santa Fe resort sold for $100M — twice what seller paid a year ago

BY LORI WEISBERG JULY 25, 2023 5:33 PM PT Just a year after the Inn at Rancho Santa Fe was sold to a luxury resort operator, the century-old property has been sold yet again — this time for $100 million. While the sales price is more than twice what former owner Steve Hermann paid over a year…

Read More

Resort Near San Diego Trades in Region’s Biggest Hotel Sale of 2023

GEM Realty Capital Pays $100 Million for The Inn at Rancho Santa Fe By Lou HirshCoStar News July 25, 2023 | 12:11 P.M. The Inn at Rancho Santa Fe, a luxury resort in a posh enclave near San Diego, has sold for about $100 million in the region’s largest hospitality transaction this year by price amid a…

Read More

Boutique Stays

BY BRYNN SHAFFER JULY 24, 2023 Palisociety, a collection of boutique hotels, is experiencing tremendous growth, despite the hotel industry still being in post-pandemic recovery mode.  As part of that expansion, the Venice-based company recently opened a hotel in Hollywood, bringing the total number of properties in L.A. to seven. “Being able to have multiple…

Read More

Suburban Chicago hotel owners trying to tread financial waters

Recovering occupancy may not be enough to avoid watchlists, distress By Rachel Herzog JUL 19, 2023, 11:00 AM UPDATED JUL 19, 2023, 6:00 PM In suburban Chicago, where a number of office landlords have seen their loans become delinquent or watchlisted, some hotel owners are also feeling the crunch. “In markets where you’re seeing the biggest dropoff in business…

Read More