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San Francisco waiting for RevPAR, occupancy recovery
By Atlas Hospitality |
By Alicia HoisingtonSep 19, 2023 02:07pm San Francisco offers a diverse set of demand generators, such as popular tourist attractions like the Golden Gate Bridge, Fisherman’s Wharf and more. But the market has been slow to recover to pre-pandemic performance levels. That, paired with other financial factors, makes the outlook for the city’s hotel market a…
Read More Relevant Group seeks partner for Hollywood hotel project
By Atlas Hospitality |
Schrader Boulevard site has entitlements 203-key hotel SEP 13, 2023, 4:34 PM By Isabella Farr Relevant Group is looking for a joint venture partner in a fully entitled hotel site in Hollywood, The Real Deal has learned. Relevant has hired Cushman & Wakefield to market the Schrader hotel project to potential investors, according to marketing materials for the…
Read More Rooms On the Way: Smaller Projects Gain Favor
By Atlas Hospitality |
Home Away From Home BY GINA HALL | SEPTEMBER 11, 2023 Increased construction costs and high interest rates are taking a toll on hotel construction in Los Angeles and the rest of the state. Los Angeles County still leads California in building new lodging, with 21 hotels and 2,329 rooms under construction the first half…
Read More Cambria hotels in Napa, Sonoma counties lost in $80 million foreclosure
By Atlas Hospitality |
Jennifer Huffman | Sep 6, 2023 Updated 8 hrs ago The 90-room Cambria Hotel Napa Valley, which opened in 2021 after three years of construction, has been officially lost to foreclosure. The Cambria’s developer, Stratus Development of Irvine, no longer owns the Soscol Avenue property. That foreclosure also includes a Cambria hotel in Rohnert Park, in Sonoma County.…
Read More 2 Wine Country hotels go back to the lender after no bids at foreclosure sales
By Atlas Hospitality |
The 132-room Cambria Sonoma Wine Country hotel in Rohnert Park opened in May 2020. An entity managed by Stratus Development Partners owed over $80 million on this and a Cambria hotel in Napa when the loan for both went into foreclosure in early July 2023. (Courtesy: Cambria Sonoma Wine Country) JEFF QUACKENBUSH – THE NORTH…
Read More OC developer Greens Group buys LAX Wingate hotel for $24M
By Atlas Hospitality |
Deal at $160K per room comes as hospitality sales shrink in SoCal market AUG 29, 2023, 5:56 PM By Trevor Bach / Research by Christian Bautista In a dire season for L.A. hotel sales, one Irvine-based development firm has picked up a 148-key property near LAX. Greens Group, an Irvine-based company led by Ashutosh Kadakia, bought the Wingate…
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