Posts Tagged ‘Alan Reay’
Bay Area hotel market wobbles in San Jose, San Francisco, Oakland
Famed San Francisco hotel’s “non-performing” loan gets shopped to buyers By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News GroupPUBLISHED: March 1, 2023 at 5:30 a.m. | UPDATED: March 1, 2023 at 1:28 p.m. Fresh signs have emerged that the Bay Area’s hotel market is wobbly — including efforts to scout for one or more investors willing to take over a faltering…
Read MoreReport: Buyer Demand for CA Hotels Remains Strong
HOSPITALITY: 510 Transactions Total $8.6B in 2022 BY: KAREN PEARLMANAPRIL 6, 2023 After a record year in 2021 with 510 hotels transacted, buyer demand for hotels in California remains strong. The Newport Beach-headquartered Atlas Hospitality Group reports in its 2022 Year-End California Hotel Sales Survey, that last year marked the second-highest number of individual hotel…
Read More2023 Development Update: Los Angeles
Revamped icons and bold newcomers help shape LA’s hospitality renaissance Words by: Will Speros • Photos by Sam Frost, Caylon Hackwith, and the Ingalls Although 2022 saw rising costs lead to a slowdown in Los Angeles hotel development, Atlas Hospitality Group reports, the city still closed the year with the third-biggest hotel construction pipeline in the…
Read MoreAppraisal Meant to Determine if Housing Commission Overpaid for Pandemic-Era Hotel Can’t Answer That Question
by Andrew Keatts | March 17, 2023 It didn’t answer the question. The San Diego Housing Commission released to the City Council Thursday the new appraisal of a Mission Valley hotel it bought to turn into housing for formerly homeless people. Nearly three years ago, the Housing Commission acquired the property for $67 million with the help of…
Read MoreOver-the-top bar and restaurant scene, high-rise hotels set to open in downtown L.A.
BY ROGER VINCENT STAFF WRITER Photography by ROBERT GAUTHIER APRIL 3, 2023 5 AM PT A high-rise with two hotels and an over-the-top restaurant and bar scene is set to open this month by Crypto.com Arena in downtown Los Angeles as travelers embrace the road again and the hospitality business climbs out of the crater it sunk into during the…
Read MoreReal estate: Owner of hotels in Bay Area files for bankruptcy
https://www.mercurynews.com/2021/01/21/real-estate-hotel-owner-bay-area-bankrupt-covid-economy-jobs-eagle/ Hotels in South Bay, Peninsula are caught up in owner’s bankruptcy By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: January 21, 2021 at 5:45 a.m. | UPDATED: January 21, 2021 at 3:32 p.m. SAN JOSE — The owner of two Bay Area hotels, one in San Jose and one in San Mateo, has filed for bankruptcy, grim…
Read MoreLa Jolla firm joins rush to acquire financially troubled hotels amid pandemic
La Jolla firm joins rush to acquire financially troubled hotels amid pandemic – La Jolla Light The newly formed Torrey Pines Hotel Group will join a Los Angeles-based firm to buy up financially distressed hotels at discounted rates and manage them long-term. By LORI WEISBERG JAN. 18, 2021 10 AM As hotels struggle to survive a…
Read MoreHotel Openings and Construction Are Slowing Across the State
BY JOSEPH PIMENTEL ORANGE COUNTY PUBLISHED 5:45 PM ET AUG. 20, 2020 The pace of new hotel openings in California is going down. After the state saw a record number of hotel openings and construction, the coronavirus-catalyzed economic downturn has slowed new hotel openings and developments in Orange County and throughout California through the first half of…
Read MoreBay Area officials want to purchase your hotel. Here’s why and what you should know
https://www.bizjournals.com/sanfrancisco/news/2020/07/30/bay-area-officials-sprint-project-roomkey.html By Alex Barreira – Staff Reporter, San Francisco Business Times Jul 30, 2020, 4:27pm PDT Updated Jul 30, 2020, 4:29pm PDT A new state initiative is granting Bay Area officials about $100 million to purchase permanent housing for the homeless, opening a potential exit route for some struggling hotel owners. It’s part of Project Roomkey, a project which aims…
Read MoreLA Celebrity Hideaway Chateau Marmont Could Become Private Residential Club
Iconic Property’s Owner Explores New Model as Pandemic Hits Hotels Hard https://product.costar.com/home/news/shared/616076017?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 By Lou Hirsh CoStar News July 29, 2020 | 6:46 P.M. The iconic Chateau Marmont hotel, a nearly century-old landmark off Los Angeles’ famed Sunset Strip and known as a secluded luxury stopover for celebrities, is being eyed by its current owner for a conversion…
Read MoreMotels are having a moment. It’s a coronavirus thing
https://www.latimes.com/business/story/2020-07-24/motels-coronavirus-design By ROGER VINCENTSTAFF WRITER JULY 24, 2020 11:03 AM After many years of being looked down on, motels are getting new respect in the era of social distancing. Guests at open-corridor inns may come and go without passing through crowded lobbies, packed elevators or enclosed hallways where viruses may linger. “In outdoor corridors, people feel safe,” said…
Read MoreWest Elm Hotel Plans Stall With Lawsuit Involving Development Partner
Some of Retailer’s Hotel Development Sites Were Replaced With New Operators https://product.costar.com/home/news/1613864686?tag=1 By Katie Burke CoStar News July 22, 2020 | 09:09 AM Home furnishings retailer West Elm’s plans to enter the hospitality industry by building at least six hotels across the country appear to have hit a snag amid delays and legal battles, threatening…
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