A hotel in the East Bay has found a buyer as the region’s lodging markets continue working to regain their footing, according to a recent report from the Mercury News.
Atlas Hospitality Group President Alan Reay weighed in on the broader pricing environment behind such deals, noting current hotel valuations reflect unusually steep discounts. As Reay put it, “We have not seen prices this low for hotels even in other downturns such as the recession,” referencing the 2007-2009 economic contraction.
The comparison underscores just how challenged hotel values have become in parts of the East Bay and beyond, even as pockets of buyer interest emerge.