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BY CARLY OLSON, SUHAUNA HUSSAIN, HELEN LI JULY 27, 2023 4:11 PM PT Ticket prices aren’t the only eye-popping expense that comes with seeing Taylor Swift perform selections from her 10-album career on the final leg of her record-breaking Eras tour. With her six Los Angeles shows drawing fans from all over the Southwest, hotels near SoFi Stadium and around the city…
BY LORI WEISBERG JULY 25, 2023 5:33 PM PT Just a year after the Inn at Rancho Santa Fe was sold to a luxury resort operator, the century-old property has been sold yet again — this time for $100 million. While the sales price is more than twice what former owner Steve Hermann paid over a year…
GEM Realty Capital Pays $100 Million for The Inn at Rancho Santa Fe By Lou HirshCoStar News July 25, 2023 | 12:11 P.M. The Inn at Rancho Santa Fe, a luxury resort in a posh enclave near San Diego, has sold for about $100 million in the region’s largest hospitality transaction this year by price amid a…
BY BRYNN SHAFFER JULY 24, 2023 Palisociety, a collection of boutique hotels, is experiencing tremendous growth, despite the hotel industry still being in post-pandemic recovery mode. As part of that expansion, the Venice-based company recently opened a hotel in Hollywood, bringing the total number of properties in L.A. to seven. “Being able to have multiple…
Recovering occupancy may not be enough to avoid watchlists, distress By Rachel Herzog JUL 19, 2023, 11:00 AM UPDATED JUL 19, 2023, 6:00 PM In suburban Chicago, where a number of office landlords have seen their loans become delinquent or watchlisted, some hotel owners are also feeling the crunch. “In markets where you’re seeing the biggest dropoff in business…
Decision points to ongoing weakness for Bay Area hotels By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: July 10, 2023 at 8:20 a.m. | UPDATED: July 10, 2023 at 3:34 p.m. OAKLAND — A wobbly hotel operator will surrender ownership of 19 hotels nationwide — including four in the East Bay — as a way to curb worsening debts,…
HOSPITALITY: SD County Hotel Business Among Top 10 in U.S. BY: KAREN PEARLMAN JULY 3, 2023 The Covid-19 pandemic kept travelers close to home and greatly impacted the hospitality industry, with staffing cuts and hotel closures not uncommon. But with the health emergency more in the rear-view mirror, protocols less restricted and visitors’ minds more…
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…
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…
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…
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…
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…
Atlas Hospitality Group, which specializes in the sale of California hotels, was founded by Alan X. Reay in 1997. Since its inception, Atlas has sold more hotels in the state than any other brokerage firm.