Atlas in the news

San Diego Business Journal 08/07/18 Hotel Industry Is Building on Its Solid Metrics By Mariel Concepcion https://www.sdbj.com/news/2018/aug/07/hotel-industry-building-its-solid-metrics/   San Diego — On paper, San Diego doesn’t look very good as far as the hotel industry is concerned. It only has two Fortune 500 companies (energy company Sempra Energy and chip-maker Qualcomm Inc.), which means not a lot of corporate travel coming in and going out of the city, thus, less business-trip-related hotel bookings. And, with limited overseas flights until recently, there has not been a lot of international travel to account for, either. But, that isn’t stopping San Diego and its tourism industry stakeholders from taking full advantage of what the county does offer, like great weather, tons of tourist sites and a plethora of corporate spaces, including the San Diego Convention Center. As a result, the demand for hotel rooms continues to rise and supply continues to increase with the construction and opening of new hotels up and down the coast, setting 2018 to be yet another chart-topping year in hotel development for the county. The Properties According to Atlas Hospitality Group, in the first half of 2017, 26 hotels opened in San Diego, and 130 hotels and 18,271…

The Press-Enterprise 08/01/18 Does Riverside County Need 71 More Hotels? By Jonathan Lansner https://www.pe.com/2018/08/01/does-riverside-county-need-71-more-hotels/   Riverside County got two new hotels so far this year with 71 more in the works. And Riverside County isn’t alone. Regionally, 11 hotels just opened and 472 are in some stage of development, according to Atlas Hospitality’s first-half summary of the hotel construction scene. Here are five Riverside County hotel trends to know … 1. New: Two openings with 337 rooms — Courtyard Murrieta Riverside with 183 rooms and Hotel Paseo in Palm Desert with 154 rooms. 2. Compared to: Three openings with 411 rooms last year. 3. Building: 15 hotels under construction vs. 10 a year ago — up 50 percent. Rooms being built total 2,196 — a 18.7 percent jump. 4. Drawing board: 56 hotels planned vs. 52 a year ago — up 8 percent. Rooms in planning total 9,370 — off 4 percent. 5. Current results: CBRE Hotels reports room rates in the western Inland Empire rose 4.4 percent in a year to $123 a night as 78.5 percent of rooms were full vs. 77.6 percent a year earlier.

Successful Meetings 07/30/18 Survey Finds Booming Hotel Development in San Diego By Mat Alderton http://www.successfulmeetings.com/news/destinations/west/hotel-development-surges-in-san-diego/

HotelNewsNow 07/31/18 LA Projects, Brands Lead H1 2018 California Development By Sean McCracken http://www.hotelnewsnow.com/Articles/288600/LA-projects-brands-lead-H1-2018-California-development   LOS ANGELES—California remains one of the hottest areas for hotels in the U.S. Alan Reay, president of Atlas Hospitality Group, said he’s blown away by the continued strong pace of development in the state. “We’ve not seen numbers like this in the 20 years we’ve been tracking in California,” he said, referencing his company’s recently released midyear 2018 development survey. “It’s nothing short of phenomenal.” According to that survey, the first half of 2018 saw a 41% year-over-year increase in hotels under construction, up to 183 from 130, with rooms up 42% from 18,271 to 25,872. But while the numbers are clearly noteworthy and a sign of the continued strong metrics in the state, there are obviously concerns attached. “You’re always concerned in the back of your mind about oversupply,” Reay said. 1. Los Angeles keeps up blazing pace Los Angeles County continued to see significant hotel construction and openings through the first half of the year. Four hotels with a combined 727 rooms opened in the period, the largest of which was the 288-room Sheraton Los Angeles San Gabriel. There are 37 hotels with…

Bisnow 07/30/18 Report: California’s Hotel Market Continues to Trend Upward By Joseph Pimentel https://www.bisnow.com/orange-county/news/hotel/report-orange-county-los-angeles-californias-hotel-market-continues-to-trend-upward-91234   Despite rising construction costs, hotels across California continue to open at a robust pace, more are still under construction and there are plans to build on the horizon. Twenty-six hotels opened in the first half of 2018, the same as the first six months of the previous year, according to Irvine-based Atlas Hospitality Group’s midyear report. In that same period, the number of hotels under construction has jumped by 41% from 130 to 183. New rooms under construction rose by 42%, from 18,271 to 25,872. In Orange County, three hotels totaling 445 rooms opened in the first six months of the year. Nine hotels with 2,391 rooms are under construction and there are 63 hotels with about 10,750 rooms in the planning stages. In Los Angeles County, four new hotels with 727 rooms opened, 37 hotels with 5,631 rooms are under construction and 246 hotels totaling 37,682 rooms are in planning. San Diego County added four new hotels totaling 627 rooms. There are 21 hotels with 3,410 rooms under construction and 84 hotels totaling 17,080 rooms are being planned. San Francisco only had one hotel…

The Orange County Register 07/30/18 Does Orange County Need 72 More Hotels? By Jonathan Lansner https://www.ocregister.com/2018/07/30/does-orange-county-need-72-more-hotels/   Orange County got a trio of new hotels so far this year with 72 more in the works. And Orange County isn’t alone. Regionally, 11 hotels just opened and 472 are in some stage of development, according to Atlas Hospitality’s first-half summary of the hotel construction scene. Here are five Orange County hotel trends to know … 1. New: Three openings with 445 rooms — Hampton Inn & Suites in Irvine (164 rooms); Hilton Huntington Beach (addition) with 151 rooms; and Lido House in Newport Beach, 130 rooms. 2. Previously: Three openings with 461 rooms in 2017 and four new hotels with 1,078 rooms in 2016. 3. Building: Nine hotels under construction vs. eight a year ago — up 13 percent. Rooms being built total 2,391 — a 100 percent jump. 4. Drawing board: 63 hotels planned vs. 50 a year ago — up 26 percent. Rooms in planning total 10,756 — a 3 percent jump. 5. Current results: CBRE Hotels reports in 2018’s first five months room rates rose 3.9 percent in a year to $191 a night as 79.5 percent of…

CoStar 07/27/18 The Hotel Market Is Looking Good in L.A., but It’s Not All About Size Development Remains Strong, Especially in the Downtown Core By Karen Jordan https://product.costar.com/home/news/shared/193746   ‘If you build it, they will come,’ seems to be the mantra for hotel construction in California lately, and Los Angeles is leading the pack. Los Angeles County is ahead of the rest of the state with 246 hotels and 37,682 hotel rooms in the pipeline this year. It is an increase of 21 percent and 24 percent, respectively, over last year, according to Atlas Hospitality’s 2018 Mid-Year California Hotel Development Survey. The size of Los Angeles County does play a role. The total number of hotels in the county probably equals San Diego and Orange County combined, according to Alan Reay, president of Atlas Hospitality Group said. However, there are also other considerations. “There’s no question that the downtown Los Angeles market, with the tax incentives that the city has offered, has really spurred hotel development,” Reay said, adding that the planned expansion of the Los Angeles Convention Center has also factored in. The proposed $1.2 billion expansion of the Los Angeles Convention Center would include expanding the JW Marriott…

CoStar 07/30/18 More Hotels on the Way in San Diego, Orange Counties By Lou Hirsh http://www.costar.com/News/Article/More-Hotels-on-the-Way-in-San-Diego-Orange-Counties/203167   Thanks in part to a still-strong national tourism economy, hotel development pipelines remain robust in Southern California’s San Diego and Orange counties. A new mid-year statewide report shows those two areas trail only Los Angeles County within the golden state for the number of hotel rooms under construction and in planning. Atlas Hospitality Group, an Irvine, CA-based brokerage and research firm, noted San Diego County had 21 hotels with 3,410 rooms under construction at the mid-point of 2018, the largest of which is the 400-room InterContinental, set to open later this year on the downtown San Diego waterfront. The San Diego region had another 84 hotels in planning, up 11 percent from a year ago, with a total of 17,080 rooms, up 13 percent. Just north in Orange County, there were nine hotels with 2,391 rooms under construction, including the 613-room Westin Anaheim Resort. That region had another 63 hotels in planning, up 26 percent, with 10,756 rooms, up 3 percent. All of this is happening after California hotels have experienced nearly eight straight years of revenue and occupancy growth, as the industry…

Laguna Beach Independent 07/30/18 Old Hotel Receives Hip Makeover By Andrea Adelson https://www.lagunabeachindy.com/old-hotel-receives-hip-makeover/   A roadside apartment hotel in North Laguna initially built in 1949 will soon welcome guests following an eight-month renovation by a hotel developer-owner known for seeking distinctive properties. Painted in a contemporary palette of bright white bordered by black trim, the former Laguna Beach Motor Inn expects to open its doors in August as Hotel Joaquin, the newest project of the Makarechian family. Workers take a lunch break from installing landscaping around the soon to be open boutique Hotel Joaquin, at Coast Highway and Fairview St. Hotel Joaquin is part of Auric Road, formerly Makar Properties of Beverly Hills, which owns two other boutique hotel properties – Korakia Pensione in Palm Springs and Lone Mountain Ranch in Big Sky, Mont., — also recent acquisitions by the family business. Auric Road properties seem intended to appeal to the globetrotting millennial population that shuns chain hotels for chic environs with personal amenities like wine tastings, on-site spas, wifi wired work spaces and high thread-count bedding, suggests Skift, a website tracking travel industry trends. With its cove-filled coastline alluring visitors for a more than a century, Laguna now attracts…

Los Angeles Times 07/26/18 California’s Hotel Construction Sets a Blistering Pace By Lori Weisberg http://www.latimes.com/business/la-fi-california-hotel-construction-20180725-story.html   Coming off a record-setting 2017, hotel development throughout California so far this year shows no signs of slowing, even as construction costs continue to climb. There are 182 hotels accounting for nearly 25,000 rooms under construction up and down the state — a 40% increase over the first half of 2017, reports the Atlas Hospitality Group in its semiannual survey of hotel development. Expect more of the same, especially in Southern California destinations such as downtown Los Angeles and San Diego, as well as Anaheim, where developers have been especially bullish. Of the 2,400 hotel rooms being built in Orange County, the vast majority — nearly 1,800 — are in Anaheim. The largest hotel to open in Los Angeles County so far this year is the 288-room Sheraton Los Angeles San Gabriel, which caters to Chinese visitors with Mandarin-speaking concierges and a high-end Sichuan restaurant. It has a fleet of eight robots that can offer guests directions and deliver towels and other items to the rooms. In downtown Los Angeles, the luxurious NoMad occupies a 12-story former Bank of Italy office building built in…

The Orange County Register 07/27/18 Does Southern California Need 472 More Hotels? By Jonathan Lansner https://www.ocregister.com/2018/07/27/does-southern-california-need-472-more-hotels/   More than a few folks in the tourism trade seem antsy these days with tough trade talks scaring off some foreign visitors and rising costs nipping at profits. But Southern California hotel operators are staying in a construction mood, opening 11 lodging facilities in 2018’s first half with 472 more being built or planned. The building boom suggests the long-run outlook appears sunny to local hotel executives, according to what’s found in Atlas Hospitality’s first-half summary of the hotel construction scene in the four counties covered by the Southern California News Group. Of statewide conditions, Atlas Hospitality wrote: “Lenders and developers continue to be very bullish on new California hotel construction, as they see a very positive long-term outlook for the Golden State. The fact that construction costs are up 20 to 25 percent over the last 12 months seems to have done little to dampen the pace of development. Midway through 2018, all signs continue to be positive.” Here are seven hotel industry trends from Los Angeles, Orange, Riverside, and San Bernardino counties … 1. What’s new: The four-county region had 11…

The Real Deal 07/25/18 LA’s Hotel Boom Continues Despite Rising Construction Costs: Report Hotel rooms under construction rose 25 percent in first half of year By Natalie Hoberman https://therealdeal.com/la/2018/07/25/las-hotel-boom-continues-despite-rising-construction-costs-report Hotel development, both in L.A. and across California, remained strong in the first half of the year, fueled by high occupancy rates and profitable revenue streams. In Los Angeles County, the number of hotel rooms under construction has increased 25 percent year-over-year since January, according to a new semi-annual survey published by Atlas Hospitality Group. There are currently 37 hotels with 5,631 rooms under construction. That’s a sizable increase from the four hotels that have already opened this year, the Los Angeles Times reported. The growth spurt comes amid a 25 percent rise in construction costs, Alan Reay, president of Atlas Hospitality, told the LAT. Still, that has yet to deter many developers from flocking to the region, where a notoriously tough permitting process has kept supply low. The boom is being echoed statewide. In California, 183 hotels with nearly 26,000 rooms are currently under construction, reflecting a roughly 40 percent increase from the same time last year. Orange and San Diego counties posted some of the largest upticks, rising 100…