Posts Tagged ‘Alan Reay’

January 14, 2025 The year 2024 was a transformative one for California’s hotel industry, defined by a mix of contraction and resilience, according to the latest California Hotel Development Survey by Atlas Hospitality Group. While the number of new hotel openings declined sharply, several regions demonstrated their long-term commitment to hospitality growth, with major projects…

Openings dropped 34% in 2024, with only three new hotels in nine-county Bay Area. By Jack Rogers| January 17, 2025 at 07:08 AM Hotel development has plunged across California for 2024, with the lowest total of new hotels and rooms delivered to The Golden State since 2014. Only 35 new hotels were delivered last year, a…

Atlas Hospitality survey reports 35 new hotels in 2024 By Bryan Wroten | Hotel News Now | January 15, 2025 | 6:23 AM California hotel development reached its lowest point in about 10 years in 2024. Atlas Hospitality Group’s California Hotel Development Survey 2024 Year-End found 35 hotels opened last year, a 34% year-over-year drop in…

Inflation and interest rates hobble hotel projects By George Avalos | gavalos@bayareanewsgroup.com | Bay Area News Group UPDATED: January 15, 2025 at 4:18 AM PST SAN JOSE — Hotel development nosedived in California and the Bay Area in 2024, fresh evidence the statewide lodging market may still be affected by economic conditions following a global pandemic, a new report shows. Atlas Hospitality…

Hotel faces foreclosure due to delinquent loan By George Avalos | gavalos@bayareanewsgroup.com | Bay Area News Group UPDATED: January 8, 2025 at 10:42 AM PST CUPERTINO — A South Bay hotel with a trendy design and a prime location near a famed Apple office hub has lurched into a loan default, a grim reminder of the weakness in the Bay…

Utah investment firm acquires two Anaheim properties for more than $200 million By Lou Hirsh | CoStar News | December 24, 2024 | 12:14 P.M. An investor has snapped up two Anaheim hotels in California’s largest hospitality sales deal of 2024, the latest sign of a potential nationwide rebound in such transactions in the coming year.…

Sheraton San Diego Hotel & Marina Finishes $100M+ Reno REAL ESTATE: Upgraded Rooms, Pool Area, Meeting Space, Lobby, New Restaurants By  Donald Bloodworth  – December 19, 2024 SAN DIEGO – More than $100 million went into updating the Sheraton San Diego Hotel & Marina in a newly finished renovation billed as a transformation that “redefines…

Lowered projections for cuts in 2025 a cause for concern By Bryan WrotenHotel News NowDecember 19, 2024 | 7:16 AM The Federal Reserve’s decision to cut the federal funds rate a further 25 basis points will lower the cost of capital. But even when combined with the two previous cuts from this year, hotel industry…

December 3, 2024 Bianca Barragán, Southern California  Los Angeles is gearing up to host the Olympic and Paralympic Games, a Super Bowl and World Cup games in the next decade, but its hotel landscape is facing challenges from every angle. There are 105 hotel projects in the Greater Los Angeles area in the development process, Majestic Hospitality Group CEO Christopher Henry said,…

Plunging values, and safety concerns are hitting lodgings in the airport corridor. By Jack Rogers| November 22, 2024 at 05:38 AM Hotel values are cratering in Oakland, with the latest benchmark set by a downtown property that sold for 76% less than its last trade. Core Property Capital paid $10.6M for the Courtyard Oakland Downtown, a…

By Alex Barreira – Staff Reporter, San Francisco Business Times Nov 20, 2024 | Updated Nov 20, 2024 7:15am PST As the contract impasse between San Francisco hotel workers union Unite Here Local 2 and operators Hilton, Hyatt and Marriott nears its 100th day, the union is turning its appeals to a surprising place: Wells…