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Discussions are in final stages to land new funding but bumpy road looms By George Avalos | gavalos@bayareanewsgroup.com | Bay Area News Group UPDATED: October 20, 2024 at 7:36 a.m. SAN JOSE — The owner of a big San Jose hotel has crafted a plan to land a crucial round of financing for the lodging tower — even as the…

By Roger Vincent | Staff Writer | Oct. 11, 2024 3 AM PT Construction is underway on a $300-million hotel next to SoFi Stadium, the latest addition to Rams owner Stan Kroenke’s sprawling mixed-use development on the former site of the Hollywood Park horse racing venue in Inglewood. The 300-room Kali Hotel is the only hotel in Kroenke’s…

BY EMILY SANTIAGO-MOLINA | SEPTEMBER 16, 2024 The ownership of the Ramada by Wyndham Costa Mesa/Newport Beach hotel sold the 137-room property to hospitality firm Excel Hotel Group for $20.5million. The three-story resort was built in 1983 and went for $149,444 per room in August, according to CoStar. The seller, B D Inns Inc., recruited…

By Roger Vincent | Sept. 18, 2024 1:33 PM PT Construction of a new high-rise addition to the Hilton hotel in Universal City was approved by the Los Angeles Planning Commission, clearing a major hurdle for the long-planned expansion. The decision comes as Universal Studios and other popular tourist destinations in the region shine for hoteliers even…

By Caroline Petrow-Cohen | Staff Writer | Sept. 12, 2024 9:14 AM PT Hotel sales are flagging in Los Angeles County and throughout the state as high interest rates and smaller-sized deals have been a drag on the market, according to a recent industry report. During the first six months of the year, the number of hotels…

Market favors smaller properties that need less capital but struggles with “bid-ask spread” Sep 10, 2024, 11:30 AM | By TRD Staff It pays to think small in the Los Angeles hotel market. At least, that’s how the market has worked so far this year. Los Angeles County saw a 6 percent drop in the…