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The San Diego Union-Tribune 07/02/15 By Lori Weisberg http://www.sandiegouniontribune.com/news/2015/jul/02/doubletree-hotel-carmel-valley-sold-san-diego-firm/ The 224-room DoubleTree San Diego Del Mar hotel has been sold to a San Diego firm for $40 million, marking the fourth San Diego lodging property to sell in the last couple of months. The buyer, Southwest Value Partners, a private real estate investment…
Voice of OC 06/30/15 By Adam Elmahrek http://voiceofoc.org/2015/06/does-the-argument-behind-anaheims-luxury-hotel-tax-subsidy-plan-hold-water/ Earlier this month, in the latest iteration of hotel subsidies in Anaheim, the City Council majority approved a policy that calls for the city to kick back 70 percent of room-tax revenue to developers of luxury hotels based on the premise that high-end hotels generate more…
06/10/15 The Orange County Register By Art Marroquin ANAHEIM – Anaheim is trying to get into the luxury hotel game, even without an ocean. The City Council on Tuesday will consider whether to offer hefty room-tax breaks to developers wanting to build upscale resorts, a move that supporters say will attract more lucrative conventions…
05/29/15 The Orange County Register By Hannah Madans The hotel was built in 1986 by the Irvine Co. and managed by Four Seasons until Irvine Co., which owns it, took over the management 10 years ago. “We continue to do renovations because we are always reinvesting in our properties and seek to be the…
OAKLAND — The iconic Marriott Hotel, a high-rise landmark in downtown Oakland, has been bought by a joint venture led by veteran realty firm DiNapoli Capital Partners. The hotel was bought for about $84 million, according to sources familiar with the transaction. “This shows that downtown Oakland is a very strong market,” said Alan Reay,…
ANAHEIM – The Walt Disney Co. has purchased a hotel that sits directly across Harbor Boulevard from its two theme parks for $32 million, according to public records. Disney, through a limited-liability corporation, Carousel Holdings EAT, purchased the 131-room Carousel Inn & Suites on 1530 S. Harbor Blvd. from Good Hope International. Messages to Good…
It’s big news in the hotel industry that downtown Sacramento is getting a boutique property with the Kimpton Hotels brand. But outside of the hotel industry, few folks know the name. There are no hotels called Kimpton. The San Francisco-based chain operates its boutique hotels under mostly unique local names. In San Francisco, those include…
The luxury SLS Beverly Hills hotel created by hotel and nightclub mogul Sam Nazarian has been sold for $195 million to Torrance multilevel marketing and hotel firm Sunrider International. Nazarian’s company SBE opened the 297-room hotel in 2008, just as the hospitality industry was going into a recession-related skid. The hotel business has since recovered…
The trendy Ace Hotel that opened last year in a refurbished historic building in downtown Los Angeles has been purchased by a Maryland real estate investment trust for $103 million. The 182-room hotel near the intersection of Broadway and Olympic Boulevard will continue to be operated by Ace Hotel Group, buyer Chesapeake Lodging Trust said….
Fresh from a multimillion-dollar renovation, Downtown San Diego’s all-suites luxury hotel has a new owner, and a new format to boot: Vacation ownership under a Marriott Vacations Worldwide flag. Marriott Vacations Worldwide has paid $52.65M, or some $199,400/room, for the hotel from NYC private equity fund Westbrook Partners, according to Irvine-based Atlas Hospitality. Marriott’s Ed Kinney…
ANAHEIM – The Walt Disney Co. has purchased a hotel that sits directly across Harbor Boulevard from its two theme parks for $32 million, according to public records. Disney, through a limited-liability corporation, Carousel Holdings EAT, purchased the 131-room Carousel Inn & Suites on 1530 S. Harbor Blvd. from Good Hope International. Messages to Good…
A year after taking over full ownership of the Hotel del Coronado, Strategic Hotels and Resorts has decided to unload its interest in the Hyatt Regency La Jolla in a deal valued at $118 million. The Chicago-based real estate investment firm, along with its joint venture partner, which is affiliated with the government of Singapore…