Posts by WAW

Los Angeles Business Journal 09/13/19 Hotel Plans Proliferate in Hollywood By Hannah Madans https://labusinessjournal.com/news/2019/sep/13/hotel-plans-proliferate-hollywood/ Hotel development shows no signs of slowing, especially in Hollywood. Investor Nathan Korman has filed plans with the city for a seven-story hotel at 1723 N. Wilcox Ave. in Hollywood. The proposal calls for an 81-room hotel with two levels of…

CoStar 09/11/19 Anbang Finds Buyer for High-Profile Hotel Portfolio Chinese Insurer Selling Luxury Properties to South Korean Buyer for $5.8 Billion By Lou Hirsh https://product.costar.com/home/news/shared/626975670 China’s Anbang Insurance Group reportedly agreed to sell a portfolio of 15 U.S. luxury hotels for more than $5.8 billion to an affiliate of a South Korean financial services company,…

Sacramento Business Journal 09/11/19 Citizen Hotel Sold for $53 Million, Records Confirm By Emily Hamann https://www.bizjournals.com/sacramento/news/2019/09/11/citizen-hotel-sold-for-53-million-records-confirm.html Downtown Sacramento’s Citizen Hotel sold for $53.2 million in July, county records show. That’s $7 million less than what Platinum Equity paid for the property the last time it changed hands, in 2015. In the sale, Miami-based private equity…

CoStar 09/03/19 Onni Group Proposes One of Los Angeles Area’s Largest Hotels Developer Seeks Approval for Over 850 Rooms in Glendale, California By Karen Jordan https://product.costar.com/home/news/813587664 Developer Onni Group has proposed a more than 850-room hotel in Glendale, California, which could become one of the largest hotels by room count in greater Los Angeles. The…

The Mercury News 09/04/19 Hotel De Anza in Downtown San Jose Joins Hyatt Hotels Chain By George Avalos Hotel De Anza in downtown San Jose joins Hyatt Hotels chain SAN JOSE — The Hotel De Anza, a historic hotel in downtown San Jose, is poised to gain greater visibility by joining World of Hyatt, a…

Los Angeles Business Journal 08/30/19 Staying Power Investors are buying modest hotels but holding onto trophy properties By Hannah Madans https://labusinessjournal.com/news/2019/aug/30/staying-power A rising number of smaller, modest hotels changed hands in the first half of this year in Los Angeles — a marked change from the same period last year when several large, luxury hotels…

CoStar 08/29/19 Irvine Marriott Sells at California’s Top Hotel Price This Year Investor Interest in Golden State’s Hospitality Drives Increased Sales By Karen Jordan https://product.costar.com/home/news/shared/1293453670 An investor has bought the Marriott Irvine in Southern California’s Orange County for more than $152 million, or about $314,000 per room, according to public records. That price tag would…

CoStar 08/27/19 California Hotel Sales Surge, Riding Economic Growth By Lou Hirsh https://product.costar.com/home/news/shared/1461623265 California hotel property sales set a new price-per-room record as the number of sales increased over last year, though the momentum could slow amid escalating labor costs and international trade disputes. The number of hotel property sales in the state rose 8%…

HotelNewsNow 08/27/19 California Deals Pace Up After Slow Start to 2019 By Bryan Wroten http://www.hotelnewsnow.com/Articles/297797/California-deals-pace-up-after-slow-start-to-2019 IRVINE, California—The pace of California hotel total transaction volume and dollar volume slowed in the first half of 2019, but median price per room set a mid-year record at $130,025, according to Atlas Hospitality Group’s latest survey. The California Hotels…

The Orange County Register 08/26/19 ‘Head-scratcher’: As Tourism Cools, 20 Hotels Open in Southern California By Jonathan Lansner ‘Head-scratcher’: As tourism cools, 20 hotels open in Southern California Southern California’s hotel building boom is heating up just as tourism faces everything from declining visitor growth, a labor shortage and rising costs. Atlas Hospitality Group’s mid-year…

Napa Valley Register 08/24/19 California Hotel Sales Hit Record Price: Five Napa County Hotels Sold in First Half of 2019 By Jennifer Huffman https://napavalleyregister.com/business/california-hotel-sales-hit-record-price-five-napa-county-hotels/article_9d39d012-c622-5ffa-869c-9b24042791aa.html California hotel sales hit a record median price per room through the first six months of 2019, at $130,025, according to a report from Atlas Hospitality Group. This was a 12.7…

The Orange County Register 08/21/19 Southern California Hotel Buyers Gobble Up Smaller Properties By Jonathan Lansner Southern California hotel buyers gobble up smaller properties Southern California hotel investors have switched gears, buying more but smaller properties in 2019’s first half. According to Atlas Hospitalities semi-annual report on hotel transactions, 56 hotels in the four counties…