Posts by WAW

San Francisco Chronicle 12/15/19 Took More Than Scary Streets to Push Oracle OpenWorld to Las Vegas By Phil Matier https://www.sfchronicle.com/bayarea/philmatier/article/Took-more-than-scary-streets-to-push-Oracle-14905111.php Oracle’s decision to move its annual giant OpenWorld conference to Las Vegas next year sent a $64 million shock wave through the city’s tourism circles, but insiders say they’d seen it coming for some time.…

The Orange County Register 12/05/19 Dana Point’s Five-star Monarch Beach Resort Sold for $497 Million By Jonathan Lansner Dana Point’s five-star Monarch Beach Resort sold for $497 million The five-star Monarch Beach Resort in Dana Point — where an average night will cost you $380— has changed ownership again, this time selling for nearly a…

Bisnow 12/03/19 LA Deal Sheet By Joseph Pimentel https://www.bisnow.com/los-angeles/news/deal-sheet/la-deal-sheet-102037 The Ace Hotel in downtown Los Angeles has reportedly been sold in a $117M deal. An undisclosed buyer has acquired the 182-room hotel at 929 South Broadway from Parks Hotels & Resorts, according to the Los Angeles Business Journal. The price is one of the highest…

The Orange County Register 12/04/19 Dana Point’s Five-star Monarch Beach Resort Sold for $497 Million By Jonathan Lansner Dana Point’s five-star Monarch Beach Resort sold for $497 million The five-star Monarch Beach Resort in Dana Point — where an average night will cost you $380— has changed ownership again, this time selling for nearly a…

San Diego Business Journal 11/18/19 Is San Diego Tourism Hitting Peak Hotel? By Tom York https://www.sdbj.com/news/2019/nov/18/san-diego-tourism-hitting-peak-hotel/ Ask the local hotel industry experts, and they’re happy to tell you. San Diego’s hospitality sector has enjoyed an unprecedented period of prosperity over the past decade. They can boast about the high occupancy rates and the high price…

Los Angeles Business Journal 11/29/19 Los Angeles Ace Hotel Sells for $117M By Hannah Madans https://labusinessjournal.com/news/2019/nov/29/ace-hotel-sells-117-million/ The Ace Hotel Downtown Los Angeles, which helped spur the area’s revival when it opened five years ago on Broadway, has sold for $117 million to an unnamed buyer. The deal by Ace owner Parks Hotels & Resorts Inc.…

Los Angeles Business Journal 11/07/19 Leasehold Interest in Hotel Near LAX Sells for $50 Million By Hannah Madans https://labusinessjournal.com/news/2019/nov/07/leasehold-interest-hotel-near-lax-sells-50-million/   Sunstone Hotel Investors, Inc. has sold a leasehold interest in the Courtyard by Marriott Los Angeles near LAX for $50 million, according to a third-quarter earnings report. The property has 187 hotel rooms. The purchase…

CoStar 10/08/19 Investors to Pay $249 Million, Just Below Luxury Price, for Midprice West Coast Hotels REIT, Singapore Sovereign Wealth Fund Partner on Hotels That Can Withstand a Slow Economy By Clare Kennedy https://product.costar.com/home/news/7587818 Real estate investment trust Summit Hotel Properties Inc. is paying top dollar for four West Coast hotels that are relatively modest…

Los Angeles Business Journal 09/27/19 Hilton Leaves His Mark REMEMBRANCE: LA icon influenced more than hotels By Hannah Madans https://labusinessjournal.com/news/2019/sep/27/hilton-leaves-his-mark/ William Barron Hilton, who died Sept. 19 at his home in Los Angeles at the age of 91, had an outsized impact on the city’s business community. The son of hotel mogul Conrad Hilton, he…

Sacramento Business Journal 10/02/19 Holiday Inn Express in El Dorado Hills Sold for $21 Million By Emily Hamann https://www.bizjournals.com/sacramento/news/2019/10/02/holiday-inn-express-in-el-dorado-hills-sold-for-21.html A Holiday Inn Express in El Dorado Hills fetched a high price when it sold last month. The 93-room hotel in the El Dorado Hills Town Center sold for $21 million, or $225,806 per room. “This…

Orange County Business Journal 09/19/19 Eagle Four Denver: $80M By Katie Murar https://www.ocbj.com/news/2019/sep/19/eagle-four-denver-work-80m/ A joint venture that includes Newport Beach-based Eagle Four Partners is moving ahead on $80 million in work at the Sheraton Denver Downtown. The group bought the hotel a year ago with High Street Real Estate Partners in Atlanta on undisclosed terms;…

Santa Cruz Sentinel 09/17/19 Fairmont Hotel in Downtown San Jose Plans Wide-ranging Renovations By George Avalos Fairmont Hotel in downtown San Jose plans wide-ranging renovations SAN JOSE — The iconic Fairmont Hotel in downtown San Jose is headed for a wide-ranging facelift for its lobby and other public spaces, according to documents on file with…