Posts by WAW
New Hotels Near San Diego Count on ‘Top Gun’ Factor to Boost Business
https://product.costar.com/home/news/shared/365081903?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 Spring 2021 Debut Planned for Upscale Oceanside Complex with Hollywood Connection By Lou Hirsh CoStar News October 12, 2020 | 3:52 P.M. Developer S.D. Malkin plans a spring 2021 opening for what is being billed as the San Diego region’s largest oceanfront hotel project in more than a century, a project aimed at attracting tourist…
Read MoreTwo huge Hiltons in San Francisco land on watchlist for $725 million loan
https://www.bizjournals.com/sanfrancisco/news/2020/10/12/largest-hotels-hit-watchlist-cmbs-park-hotels.html By Alex Barreira – Staff Reporter, San Francisco Business Times October 12, 2020 The owner of the Bay Area’s two largest Hilton hotels has requested help meeting obligations on a $725 million loan backed by the two properties, a potential sign of trouble for a hotel market already battered by the pandemic. The borrower, Park Hotels &…
Read MoreHotels, motels struggling in COVID times
https://www.timesheraldonline.com/2020/10/07/hotels-motels-struggling-in-covid-times/ Business is down 30 to 40 percent at one Vallejo establishment By Katy St. Clair | kstclair@timesheraldonline.com | Vallejo Times Herald PUBLISHED: October 7, 2020 at 3:00 p.m. | UPDATED: October 7, 2020 at 6:14 p.m. The COVID-19 pandemic has sent destructive ripples throughout the economy, as the bar, restaurant and hospitality industry has…
Read MoreIrvine Company’s 1,700 layoffs mostly hit staff at 3 hotels, resorts
https://therealdeal.com/la/2020/10/07/irvine-companys-1700-layoffs-mostly-hit-staff-at-3-hotels-resorts/ Among those were workers at Donald Bren-led firm’s shuttered Hotel Irvine and Fashion Island Hotel TRD LOS ANGELES / October 07, 2020 03:37 PM By Matthew Blake Real estate investment and development juggernaut Irvine Company has laid off 1,700 employees since the coronavirus took hold, with most of those cuts affecting workers at three hotels and resorts in Orange…
Read MoreBeachfront Hotels Near Los Angeles Play Financial Catch-Up in Pandemic
https://product.costar.com/home/news/shared/1561657411?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 Owner of Santa Monica Properties Making Delayed Loan Payments in Tough Climate By Lou Hirsh CoStar News October 7, 2020 | 4:56 P.M. The owner of two prominent beachfront hotels in Santa Monica, California, said the operators caught up on payments on what had been the nation’s biggest newly delinquent loan, following unprecedented challenges for hotels…
Read MoreDana Point’s Monarch Beach Resort joins Waldorf Astoria chain
https://www.ocregister.com/2020/10/01/dana-points-monarch-beach-resort-joins-waldorf-astoria-chain/ New owner switches hotel from independent status By JONATHAN LANSNER | jlansner@scng.com | Orange County Register PUBLISHED: October 1, 2020 at 12:01 p.m. | UPDATED: October 1, 2020 at 12:42 p.m. The Monarch Beach Resort will once again be part of a luxury hotel chain. The 400-room, five-diamond hotel in Dana Point announced it’s joining with Hilton to manage and market…
Read MoreAirline Moves to Shore Up Financing on Los Angeles’ Tallest Building
https://product.costar.com/home/news/shared/894412140?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 In Tough Hotel and Office Market, Korean Air Could Sell Stake in Wilshire Grand Center By Lou Hirsh CoStar News September 19, 2020 | 6:40 A.M. The airline owner of Los Angeles’ tallest tower may be seeking to sell some or all of it as it extends $950 million in loans to the building’s hotel…
Read More‘Tsunami’ of hotel closures is coming, experts warn
https://www.latimes.com/business/story/2020-09-19/hotels-out-of-business-covid-pandemic By HUGO MARTÍNSTAFF WRITER SEP. 19, 2020 5:05 AM Located on one of the world’s most expensive strips of commercial real estate, the upscale Luxe Rodeo Drive hotel has closed, a casualty of a pandemic that is likely to put more hotels out of business. The 86-room hotel, which for 27 years shared a…
Read MoreMayors Near Disneyland, Among the Longest Closed US Tourist Hubs, Seek Reopening Rules
https://product.costar.com/home/news/2081137948 Lingering Theme Park Closings Add to Real Estate Fallout in California’s Orange County By Lou Hirsh CoStar News September 17, 2020 | 6:16 P.M. A coalition of Orange County mayors is calling on California Gov. Gavin Newsom to set reopening guidelines for Disneyland Resort and other area theme parks in one of the largest U.S. tourist hubs…
Read MoreSan Diego hotel sales come to near standstill since COVID-19
https://www.sandiegouniontribune.com/business/story/2020-09-17/california-san-diego-hotel-sales-plummet-since-covid-19 Some experts are predicting that 2020 will go down as the worst year on record for the hotel real estate market By LORI WEISBERG SEP. 17, 2020 6 AM The dollar volume of San Diego County hotel sales plummeted by 70 percent during the first half of this year, yet another indicator of an industry…
Read MoreLake Forest Drives 2020 Hotel Openings
MANY OTHERS IN WORKS COULD BE NIXED https://www.ocbj.com/news/2020/sep/07/lake-forest-drives-2020-hotel-openings/ By Katie Murar Monday, September 7, 2020 Orange County saw new hotel openings nearly double in the first half of the year, thanks to a trio of Lake Forest properties catering to business and leisure travelers, according to a report by Irvine-based hotel consultancy and brokerage Atlas Hospitality…
Read MoreCalifornia sees historic drops in hotel sales
In the second quarter of 2020, California hotel transactions volume dropped 82% year over year, according to Atlas Hospitality Group. https://www.hotelnewsnow.com/Articles/304355/California-sees-historic-drops-in-hotel-sales 10 SEPTEMBER 2020 9:22 AM By Sean McCracken and Bryan Wroten REPORT FROM THE U.S.—The California hotel industry has seen drops in overall transactions volume that are slightly worse than even the depths of the Great Recession,…
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