Posts by WAW

Hotel Management 01/13/20 California Sets Record for Number of Hotel Rooms Opened in 2019 By Alicia Hoisington https://www.hotelmanagement.net/development/california-sets-record-for-number-hotel-rooms-opened-2019 In 2019, California set a new record for the number of new hotel rooms opened, according to Atlas Hospitality Group’s “California Hotel Development Survey 2019 Year-End.” During the year, the state opened 11,795 rooms in 92 hotels.…

The San Diego Diego Union-Tribune 01/14/20 San Diego Has More Than 1,600 New Hotel Rooms San Diego County leads Los Angeles and Orange counties in the number of hotel rooms that debuted in 2019 By Lori Weisberg https://www.sandiegouniontribune.com/business/tourism/story/2020-01-14/san-diego-has-more-than-1-600-new-hotel-rooms-sycuan-leads-the-pack San Diego County’s hotel industry continues to show robust growth, with a total of 1,668 new rooms…

Bisnow 01/13/20 Hilton Hotel in Downtown San Jose Is Sold for More Than $117 Million Hotel tower next to downtown San Jose convention center changes hands By George Avalos Hilton Hotel in downtown San Jose is sold for more than $117 million SAN JOSE — The iconic Hilton Hotel in downtown San Jose has been…

Bisnow 01/13/20 California Sets New Record with Hotel Openings in 2019 By Joseph Pimentel https://www.bisnow.com/orange-county/news/hotel/report-california-sets-record-for-the-number-of-hotel-openings-in-2019-102506 California last year set a state record for the number of hotel openings in a single year, a new report says. Atlas Hospitality Group, an Orange County-based brokerage firm specializing in the hotel industry, reported that the Golden State saw…

CoStar 01/10/20 Silicon Valley Tech Boom Creates Surge in Hotel Development Santa Clara County Leads California for 2019 Room Openings, With More on the Way By Lou Hirsh Development https://www.costar.com/article/1838448630/silicon-valley-tech-boom-creates-surge-in-hotel-development California’s Santa Clara County led the state in construction of new hotel rooms in 2019, thanks largely to business travel demand fueled by Silicon Valley’s…

San Fernando Business Journal 01/01/20 Study: 2019 a Record Year for Hotel Development By Michael Aushenker http://sfvbj.com/news/2020/jan/10/study-2019-record-year-hotel-development/   The Atlas Hospitality Group 2019 Year-End California Hotel Development Survey found last year set a new record for the number of California hotel rooms opened. Some 92 new hotels opened in 2019 with 11,795 rooms and another…

Orange County Business Journal 01/09/20 Hotel Development Strong By Katie Murar https://www.ocbj.com/news/2020/jan/09/hotel-development-strong/ Three hotels opened in Orange County last year, one of which was the largest to open in the state in 2019, according to a year-end survey by Irvine-based Atlas Hospitality Group. The 352-room Cambria Hotel Anaheim Resort Area opened last summer. The other…

Orange County Business Journal 12/23/19 High Prices, Seller’s Market for OC Hotels By Katie Murar https://www.ocbj.com/news/2019/dec/23/2020-preview-hospitality-tourism California hotel sales hit record highs in 2019, with Orange County experiencing its priciest hotel sale to date. The Monarch Beach Resort traded for a record price of $497 million, or $1.2 million per room. That per-room price trails…

CoStar 12/26/19 Big Beverly Hills Hotel Deal Could Be Sign of More to Come in 2020 London’s Maybourne Buys California Property for Price Topping $2 Million per Room By Lou Hirsh https://product.costar.com/home/news/shared/1290861420 More big trophy hotel deals could be ahead in 2020, after London-based Maybourne Hotel Group acquired Montage Beverly Hills near Los Angeles for…

Los Angeles Daily News 12/27/19 Montage Beverly Hills bought for $415 million, or $2.1 million per room Busy year-end for the folks at Ohana Real Estate Investors. By Jonathan Lansner Montage Beverly Hills bought for $415 million, or $2.1 million per room Let’s just say it’s been a busy year-end for the folks at Ohana…

The Real Deal 12/24/19 Qatar-backed Hotel Firm Buys Montage Beverly Hills in Record Deal On a per-key basis, deal is one of the biggest hotel transactions in US history By Pat Maio https://therealdeal.com/la/2019/12/24/qatar-backed-hotel-firm-buys-montage-beverly-hills-in-record-deal/ Qatar-backed hotel firm Maybourne Hotel Group has added the exclusive Montage Beverly Hills hotel to its portfolio, in a deal that values…

Los Angeles Business Journal 12/23/19 Montage Beverly Hills Sells for Estimated $415 Million By Hannah Madans https://labusinessjournal.com/news/2019/dec/23/montage-beverly-hills-sells-415-million/ The prestigious Montage Beverly Hills hotel has sold for the estimated price of $415 million to a British hotel company. Maybourne Hotel Group announced that it had purchased the famed property, the company’s first hotel outside of London,…