Posts by WAW

The Registry 01/31/19 KT Urban’s Plan for Downtown San Jose Hotel Grows to 330 Rooms By Meghan Hall https://news.theregistrysf.com/kt-urbans-plan-for-downtown-san-jose-hotel-grows-to-330-rooms Cupertino, Calif.-based KT Urban’s original plans for its proposed luxury hotel at 8 North Almaden Blvd. have gotten an update, according to City of San Jose planning documents. The hotel, called Almaden Corner, was originally proposed…

Orange County Business Journal 01/28/19 OC Hotel Property Sales Down 30% By Katie Murar https://www.ocbj.com/news/2019/jan/28/oc-hotel-property-sales-down-30/   The number of hotels sold last year in Orange County declined 30% to 16 with a cumulative value of $343 million, according to a report by Atlas Hospitality Group in Irvine. The average sale price dipped 3% to $21.4…

The Real Deal 01/28/19 Amid Decline, LA Still Leads CA in Hotel Development: Report By Natalie Hoberman https://therealdeal.com/la/2019/01/28/amid-decline-la-still-leads-ca-in-hotel-development-report   Los Angeles County is leading the state in hotel development by a landslide. A new report from Atlas Hospitality Group revealed there are 6,727 rooms under construction in the county, double the amount in Santa Clara…

The Registry 01/25/19 Hotel Planned for Downtown Redwood City Heads to Environmental Review By Meghan Hall https://news.theregistrysf.com/112-key-hotel-planned-for-downtown-redwood-city-heads-to-environmental-review Redwood City’s 17-room Garden Motel, located at 1690 Broadway near Peninsula city’s downtown core is slated to be replaced by a new, 112-key Holiday Inn Express & Suites. After owning the property for nearly forty years, the Patel…

CoStar 01/24/19 SeaWorld Favors Roller Coasters Over Hotels to Boost Attendance By Lou Hirsh https://product.costar.com/home/news/shared/1589481510 For SeaWorld, adding marine-themed roller coasters is a higher priority than building on-site hotels to lure visitors to its parks across the country. New and upcoming coasters are helping SeaWorld rebound from deep visitor and revenue declines after the 2013…

HotelNewsNow 01/25/19 California Hotel Sales Could Drop Over Bid-ask Gap As the price per key hit a record in 2018 California hotel sales, the number of individual sales dropped year over year, perhaps showing a widening gap in buyer and seller expectations. By Bryan Wroten http://www.hotelnewsnow.com/articles/292456/California-hotel-sales-could-drop-over-bid-ask-gap REPORT FROM THE U.S.—In a possible indication of what’s…

Bloomberg 01/22/19 Sunset Strip Scrubs Its Seedy Rock Past with $450 Million Hotel By Patrick Clark https://www.bloomberg.com/news/articles/2019-01-22/sunset-strip-scrubs-its-seedy-rock-past-with-450-million-hotel For decades, the Sunset Strip was known for its rock clubs and celebrity hot spots. Now, the once-gritty stretch of boulevard is becoming better known for its luxury hotels. Real estate developers AECOM Capital and Combined Properties Inc.…

HotelNewsNow 01/18/19 California Development Could Taper Amid Rising Costs The number of new hotels opening in California is expected to remain steady for the next few years, but increasing costs in construction and labor, among other challenges, will likely lead to an eventual slowdown, according to a survey. By Bryan Wroten http://www.hotelnewsnow.com/Articles/292370/California-development-could-taper-amid-rising-costs   REPORT FROM…

The Orange County Register 01/15/19 Does Orange County Need 80 More Hotels? By Jonathan Lansner https://www.ocregister.com/2019/01/15/does-orange-county-need-80-more-hotels/ Orange County’s lodging industry has plans to add 80 more hotels after nine opened the past two years. The annual hotel construction report from Atlas Hospitality shows three hotels opened in 2018 in Orange County, half of the six…

The Press-Enterprise 01/15/19 Does Riverside County Need 89 More Hotels? By Jonathan Lansner https://www.pe.com/2019/01/15/does-riverside-county-need-89-more-hotels/ Riverside County’s lodging industry has plans to add 89 more hotels after nine opened the past two years. The annual hotel construction report from Atlas Hospitality shows 3 hotels opened in 2018 in Riverside County, half of the six in 2017.…

Daily Bulletin 01/15/19 Does San Bernardino County Need 45 More Hotels? By Jonathan Lansner https://www.dailybulletin.com/2019/01/15/does-san-bernardino-county-need-45-more-hotels/ San Bernardino County’s lodging industry has plans to add 45 more hotels after 5 opened last year. The annual hotel construction report from Atlas Hospitality shows 5 hotels opened in 2018 in San Bernardino County after having no openings in…

Los Angeles Daily News 01/15/19 Does Los Angeles County Need 299 More Hotels? Hotels under construction at year-end were 45 hotels vs. 32 in ’17 — a gain of 41 percent. Los Angeles County’s developers are in planning stages for an additional 254 hotels vs. 217 a year earlier — a rise of 17 percent.…