Group buys two East Bay hotels linked to troubled property portfolio

Prices are a fraction of their prior values

By George Avalos | gavalos@bayareanewsgroup.com | Bay Area News Group

PUBLISHED: July 22, 2026 at 9:12 AM PDT | UPDATED: July 22, 2026 at 10:15 AM PDT

NEWARK — Two Newark hotels that were mired in an Ashford Hospitality portfolio of troubled lodging properties were bought by a Southern California investment group for a combined $20 million, a fraction of their prior values.

Located next to each other, the Courtyard Newark Silicon Valley hotel was purchased on July 17 for $12 million, and the Residence Inn by Marriott Newark was acquired on July 20 for $8 million, documents filed at the Alameda County Recorder’s Office show.

Entrepreneur and real estate executive Cobby Pourtavosi, who heads up Los Angeles-based investment firm Capital Insight, bought the hotels from a receiver that had been appointed by a court to take over the properties due to their failed loans.

The price for the 181-room Courtyard Newark, at 34905 Newark Blvd., was 50% below the hotel’s assessed value of $24.1 million as of January.

The 168-room Residence Inn at 35466 Dumbarton Court was purchased at 66% below its assessed value of $23.8 million, as estimated for January.

The $66,200 per room cost for the Courtyard hotel and the $47,600 per room price for the Residence Inn are both far below the median price per room of $109,243 for hotels in Northern California, as estimated by Atlas Hospitality Group.

In December 2025, another hotel that was part of the Ashford Hospitality portfolio, the 156-room Courtyard by Marriott Oakland on Hegenberger Road, was bought for $12.5 million, or $80,100 a room.