Sold

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…

Hannah Welk | September 9, 2024 Hotel construction has been inching downward in Los Angeles from 49 projects with 7,650 rooms as of midyear 2020 to 19 projects with 2,121 rooms this year, according to data from Atlas Hospitality Group. “We’re seeing a lot of projects that were under construction going into foreclosure or bankruptcy,” said Alan Reay,…

SFGATE contributor Randy Diamond recaps the latest in San Francisco hotel news for the column Get a Room By Randy Diamond | Aug 30, 2024 This week in Get a Room, SFGATE’s roundup of news on hotels and accommodations in San Francisco, we check in on the Hilton and Parc 55. The city’s largest hotel, the Hilton San Francisco…