Posts by WAW

6 California resorts in limbo after Chinese deal to sell collapses China seized hotel owner Anbang two years ago The Orange County Register 05/05/20 6 California resorts in limbo after Chinese deal to sell collapses Who owns six of California’s fanciest resorts? According to numerous media reports, a $5.8 billion deal to sell 15 U.S.…

The Orange County Register 04/24/20 Irvine Co. Rethinks Hospitality Business, Temporarily Shuts 2 Orange County Hotels Hotel Irvine, Fashion Island Hotel temporarily closed. 1,076 jobs impacted. By Jonathan Lansner Irvine Co. rethinks hospitality business, temporarily shuts 2 Orange County hotels As coronavirus ravages the tourism business, the Irvine Co. will use the closure of two…

WCCO 04/12/20 Experts Share Predictions About When We Can Travel Again By Jacquie Cadorette https://wccoradio.radio.com/articles/radiocom/experts-share-predictions-about-when-we-can-travel-again With social distancing guidelines in effect well into May in some states, many are wondering when they might be able to travel again. Optimistic experts predict summertime travel while others are projecting the return of travel to hit in 2021.…

The Real Deal 04/02/20 CA Hotel Industry Sees 3,600 Job Cuts Amid COVID-19 Crisis 3,600 workers laid off over 4-day period in March By Matthew Blake https://therealdeal.com/la/2020/04/02/expedited-layoffs-mean-thousands-of-hotel-job-cuts/ A little noticed executive order by CA Gov. Gavin Newsom has accelerated layoffs in the state’s hotel industry — with pink slips issued recently to nearly 3,600 workers…

Santa Cruz Sentinel 03/30/20 Coronavirus: Bay Area Hotel Layoffs Might Just Be Start of Job Losses By George Avalos Coronavirus: Bay area hotel layoffs might just be start of job losses SAN MARTIN — At least 1,400 hotel workers in Northern California have lost jobs or been shoved into indefinite furloughs amid the coronavirus fallout,…

Sacramento Business Journal 03/27/20 Coronavirus Fallout May Test Commercial Real Estate Industry’s ‘Extend and Pretend’ Limits Emily Hamann & Ben van der Meer https://www.bizjournals.com/sacramento/news/2020/03/27/coronavirus-fallout-may-testcommercial-real-estate.html The last time the U.S. economy was in crisis, terms such as “jingle mail” and “extend and pretend” became commonspeak among the thousands of men and women earning their keep in…

San Diego Business Journal 03/17/20 2019 Was Solid Year for Hotel Sales By Tom York https://www.sdbj.com/news/2020/mar/17/2019-was-solid-year-hotel-sales/ San Diego’s hotel industry has been rolling along for the past decade. But how long will the good times last? Well, it depends, says Alan Reay, president of the Atlas Hospitality Group, which brokers hotel sales. The industry could…

The Orange County Register 03/09/20 How Coronavirus Burst California’s Tourism Bubble By Jonathan Lansner How coronavirus burst California’s tourism bubble California’s tourism bubble has burst, an economic victim of the coronavirus outbreak. It’s hard to chat about commerce when the key issue is the largely unknown scope and impact of a killer virus. But when…

The Mercury News 03/05/20 Downtown San Jose Hotel Eyed Near Google Village, SAP Center, Henry’s By George Avalos Downtown San Jose hotel eyed near Google village, SAP Center, Henry’s SAN JOSE — A new hotel could sprout in downtown San Jose near Google’s proposed transit village, the SAP Center, and Henry’s World Famous Hi-Life restaurant,…

San Francisco Business Times 03/04/20 The Coronavirus Has Already Cost the City 150,000 Hotel Nights By Alex Barreira https://www.bizjournals.com/sanfrancisco/news/2020/03/04/the-coronavirus-has-already-cost-the-city-150-000.html   Coronavirus-related cancellations at the Moscone Center have already cost hotels in the city about 150,000 room nights, according to convention officials and Business Times estimates. At least six large scheduled meetings have been canceled at…

HotelNewsNow 03/06/20 California Hotel Sales Increased in Second Half of 2019 Though the year was off to a slow start, hotel owners showed more interest in making deals in California thanks to continuing favorable conditions. By Bryan Wroten http://www.hotelnewsnow.com/Articles/300643/California-hotel-sales-increased-in-second-half-of-2019 REPORT FROM THE U.S.—California hotel sales increased during the second half of 2019 after a forecasted…

Hotel Management 02/25/20 Total Dollar Volume for California Hotel Sales Grows in 2019 By Alicia Hoisington https://www.hotelmanagement.net/transactions/total-dollar-volume-for-california-hotel-sales-grows-2019 Total dollar volume for hotel sales in California as of year-end 2019 was up 7.4 percent compared to 2018, according to Atlas Hospitality Group’s “California Hotel Sales Survey: 2019 Year-End.” That was also the fourth-highest growth on record.…