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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 |
JEFF QUACKENBUSH – THE NORTH BAY BUSINESS JOURNAL August 31, 2023, 4:43PM – Updated 31 minutes ago Two Wine Country hotels with 222 rooms altogether are now under the ownership of the lender after there were no takers in recent foreclosure auctions to cover over $80 million in outstanding debt on both relatively new facilities.…
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…
Read More Hotel Sales Decline Across State
By Atlas Hospitality |
BY BRYNN SHAFFER / AUGUST 28, 2023 This year, hotel sales experienced a steep decline statewide, according to Atlas Hospitality Group, which recently released its midyear 2023 California sales report. “It’s a record number decline,” said Alan Reay, president of Atlas Hospitality Group, who’s been tracking California hotel sales for more than 20 years. “We’ve never seen…
Read More Tom York on Business: San Diegans Experience 3 Months of Declining Rents
By Atlas Hospitality |
by Tom York 2 days ago The price of an apartment in San Diego appears to be moderating a bit. Renters here, especially those looking for new places to live, saw continued relief as Realtor.com’s July Rental Report revealed a third consecutive month of declining year-over-year costs for studio, one- and two-bedroom properties. The drop of 1.0% from July…
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