Hotel Sales Dollars Doubled in 2015

Hotel Sales Dollars Doubled in 2015

Orange County Business Journal

Hotel Sales Dollars Doubled in 2015
By Paul Hughes


Fewer hotels sold for more money last year in Orange County.

Twenty-seven hotels sold in 2015—down by three properties from 2014—but they traded hands for $1.75 billion—up 115% from the previous year’s $816 million, according to numbers from Irvine-based Atlas Hospitality Group.

Atlas said 2016 sales volume will fall about 25% from 2015 numbers as larger buyers pull back from the market and more hotels are available for purchase.

The consultant and broker said financing would increase by up to 1 percentage point and it expects the median price per room to decline by up to 10%.

The median price per room in Orange County last year was $135,000, an increase of about 12%.

The average price per room was $271,000, up 64%.

The $426 million deal for the Ritz‐Carlton, Laguna Niguel in Dana Point was the priciest local hotel buy in 2015.

Orange County’s total dollar volume in 2015 was 18% of California’s $9.5 billion in hotel sales.

“By any measure … it was a record‐breaking year,” Atlas said.

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