Posts by WAW

Silicon Valley Business Journal 02/09/18 Don’t Let the Numbers Fool You — Silicon Valley Is a Hot Hospitality Market By Janice Bitters https://www.bizjournals.com/sanjose/news/2018/02/09/bay-area-silicon-valley-hotel-hospitality-market.html   When it comes to U.S. hotel sales, California — and particularly the Bay Area — generates the most money per transaction and per hotel room in America, but year over year,…

The Real Deal 02/08/18 CitizenM Plans 315-room Boutique Hotel in Downtown The announcement comes amid a hotel construction boom By Natalie Hoberman https://therealdeal.com/la/2018/02/08/citizenm-plans-315-room-boutique-hotel-in-downtown   Add another name to the flurry of hotel construction happening in Los Angeles. The Amsterdam-based citizenM hotel chain is expanding into Downtown Los Angeles, after the company paid $13.5 million for…

Los Angeles Business Journal 02/08/18 L.A. County Hotel Sales Hits Record High of $1.67 Billion By Mark Anderson http://labusinessjournal.com/news/2018/feb/08/l-county-hotel-sales-hits-record-high-167-billion/   The total value of sales of Los Angeles County hotels hit a record of $1.67 billion last year, according to a new report from Irvine hotel brokerage Atlas Hospitality. That was an increase of 26…

Sacramento Business Journal 02/09/18 Two Years After $60 Million Sale, Citizen Hotel on the Market Again By Mark Anderson https://www.bizjournals.com/sacramento/news/2018/02/09/two-years-after-60-million-sale-citizen-hotel-on.html   The Beverly Hills-based investment firm that bought the Citizen Hotel for $60 million just over two years ago has put the boutique property back on the market. No price is listed in the memorandum…

Orange County Business Journal 02/08/18 Hotel Sales Stable on No ‘Big Deal’ By Paul Hughes http://www.ocbj.com/news/2018/feb/08/hotel-sales-stable-no-big-deal/   OC hotels sold at a slightly lower rate for a markedly lower dollar volume last year—but results were affected by the lack of a trophy property sale in 2017, a survey by broker-consultant Atlas Hospitality Group in Irvine…

Orange County Business Journal 02/07/18 Debt Servicer Buys Second Disney-Area Hotel By Paul Hughes http://www.ocbj.com/news/2018/feb/07/debt-servicer-buys-second-disney-area-hotel   An affiliate of CW Capital Asset Management LLC bought the Portofino Inn & Suites for $26 million, its second such deal in the last few years for the bad debt of a Disneyland Resort-area hotel. The Portofino is a…

Bisnow 02/05/18 Portofino Hotel Near Disneyland and Convention Center Sells for $26M By Joseph Pimentel https://www.bisnow.com/orange-county/news/hotel/portofino-hotel-near-disneyland-and-convention-center-sold-in-anaheim-for-26m-84563   The owner of a 190-room hotel near Disneyland defaulted on its loan and later sold to CW Capital Asset Management, a Maryland-based limited liability company, for $26M. Built in 1978, the Portofino Inn & Suites hotel at 1831…

Hotel Management 02/02/18 China’s Greenland Puts Downtown LA Indigo on the Market by Jena Tesse Fox https://www.hotelmanagement.net/transactions/china-s-greenland-puts-downtown-la-indigo-market That didn’t take long. Less than a year after opening in Los Angeles’ downtown neighborhood—and signaling a shift for the area—the Hotel Indigo is on the market. Developer Greenland USA, a subsidiary of the Shanghai-based property development firm…

The Real Deal 01/30/18 Thousands of New Hotel Rooms Expected to Open in LA County Won’t: Report Atlas Hospitality estimates 10,000 of the 33,000 rooms planned will actually get built https://therealdeal.com/la/2018/01/30/thousands-of-new-hotel-rooms-expected-to-open-in-la-county-wont-report/   Around 10,000 hotel rooms are expected to come online in Los Angeles County over the next few years, according to a new report,…

Orange County Business Journal 01/29/18 Little Change in Meeting Space Last Year, Lots in Focus Events Digs Make Splash as SF Up 2.1% By Paul Hughes https://www.ocbj.com/news/2018/jan/29/little-change-meeting-space-last-year-lots-focus/   Meeting space is what the community of business is, at least for the 52 hotels on this week’s list. The properties combine for 1.34 million square feet…

Orange County Business Journal 01/29/18 Surge in Hotel Renovations Hits Meetings, Events From New Towers to New Tastes, Hotels Spruce Up By Paul Hughes https://www.ocbj.com/news/2018/jan/29/surge-hotel-renovations-hits-meetings-events/   Renovation has come to the fore among local hotels as construction slowed last year and several prominent redo projects concluded or are scheduled to debut. Atlas Hospitality Group in…

Los Angeles Business Journal 01/26/18 Hotel Report: 10,000 New Rooms Likely Soon By Caroline Anderson http://labusinessjournal.com/news/2018/jan/26/hotel-report-10000-new-rooms-likely-soon   Los Angeles is a hot spot in the strongest market for hotel development in the past 30 years – but that doesn’t mean everything on the drawing board will come to fruition. That’s a caveat that Atlas Hospitality…