Disney Purchases Carousel Inn for $32 Million

Disney Purchases Carousel Inn for $32 Million

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 Hope representatives for comment were not returned on Wednesday. A Carousel Inn manager said he was unaware of the sale. A Disneyland spokeswoman confirmed the purchase.

Sandwiched between the Pizza Press restaurant and the Tropicana Inn & Suites, the five-story hotel features a rooftop pool and guest rooms ranging in size from 300 to 700 square feet. Guests typically pay $109 to $400 per night.

Disney finalized the purchase on March 23, according to public records.

“The Walt Disney Co. saw this as a strategic investment, as opportunities to purchase properties in close proximity to the resort are extremely rare,” said Suzi Brown, a Disneyland spokeswoman.

Brown said the current management will continue to operate the Carousel Inn. She added that Disney has no long-term plans for the property at this time.

“I think whatever they have in mind will be good for the resort district,” said Bill Snyder, president of the Anaheim/Orange County Hotel & Lodging Association.

Disney has three hotels in the resort district – Paradise Pier, Disney Grand Californian and the Disneyland Hotel – with more than 2,200 rooms in all. Because the current management will continue to operate the Carousel Inn, Disney does not consider the hotel part of its hotel portfolio. Disney officials are more like landlords.

Alan Reay, president of Atlas Hospitality Group, a hotel-consulting business, lauded the purchase. He cited how rare it is to find property for sale adjacent to Disneyland and Disney California Adventure, and the boom in tourism and development currently happening in Anaheim.

Reay said properties adjacent to the theme parks are considered “legacy assets” that families have had for generations and are passed down: “They don’t sell.”


Source: http://www.ocregister.com/articles/disney-659941-hotel-inn.html

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