Posts Tagged ‘Alan Reay’
Sonoma County hotel sale tops California list for 2023, but plans for new Wine Country rooms remain sluggish
CHERYL SARFATY | THE NORTH BAY BUSINESS JOURNAL | February 19, 2024, 11:58AM Where in California do you think the most expensive hotel sale took place last year? If you said Sonoma County, you would be correct. In September, the Farmhouse Inn, a 25-room luxury property in Forestville, sold for $32 million, commanding $1,280,000 per…
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Hotel Sales Sustained a Dismal 2023 BY BRYNN SHAFFER | FEBRUARY 19, 2024 California hotel sales plummeted last year, according to Atlas Hospitality Group, which recently released its 2023 end-of-year hotel sales survey. “The big jump-out is the dramatic or steep decline in number of transactions and dollar volume,” said Alan Reay, president of Atlas Hospitality Group,…
Read MoreBullish Los Angeles beckons hotel investors
BY STEFANI C. O’CONNOR | FEBRUARY 13, 2024 Politics, economics, taxes, lending environment shape lodging landscape in the City of Angels. LOS ANGELES — As a city bullish on enhancing itself as a tourist mecca — ostensibly to ensure its lodging base flourishes—Los Angeles as a destination for hotel investors presents more as a mix of select…
Read MoreHotel Sales Are Still Diving in California
Investors are not in a hospitable mood as trade value drops by 56%. By Jack Rogers | February 15, 2024 at 06:53 AM Investment sales in hotels plunged by more than 56% in California in 2023 as investors kept their powder dry waiting for better market conditions—the steepest cliff-dive for the hospitality sector in the Golden State since…
Read MoreHotels On The Rebound, But Hospitality Property Sales Remain Grounded
Margaret Jackson | Mon, Feb 12, 2024, 9:43 AM PST Hotels may be performing better than they were during the pandemic, but that’s not propelling sales of hospitality properties any higher. Individual hotel sales in California plunged 45%, from 483 in 2022 to 265 in 2023, according to a CoStar report on Atlas Hospitality Group’s annual year-end…
Read More5 Things To Know for Feb. 6
Today’s Headlines: Eric Danziger Retires as CEO of Braintree Group; Weather Patterns Disrupt Travel Globally; California Hotel Sales Drop by 45%; Majority of Hotels Report Staffing Shortages; FIFA Reveals 2026 World Cup Locations By Dana Miller | Hotel News Now | February 6, 2024 | 7:29 AM 1. Eric Danziger Retires as CEO of Braintree Group…
Read MoreHotel Deals Plummet in Northern and Southern California Amid Economic Uncertainty
By Delia Reynolds | 2024-02-06 Hotel deals implode in Bay Area and California as economy turns murky Acquisitions of hotels plunged by 48.3% in Northern California and by 60.2% in Southern California Statewide, hotel purchase activity plummeted 56.3% in 2023 in California. The decline in sales activity is a result of hotel buyers staying on…
Read MoreAtlas Hospitality Group’s Year-End Survey: Understanding the Decline in California Hotel Sales
By The Registry Staff The Atlas Hospitality Group’s Year-End 2023 California Sales Survey revealed a substantial downturn in hotel sales across the state, characterized by a 45 percent decline in individual sales — a figure only eclipsed by the recession year of 2009. Sales volume decreased by over 56 percent, marking the second steepest decline…
Read MoreTom York on Business: San Diego Shines, Bucks Statewide Decline in Latest Hotel Sales Survey
The president of Orange County hotel broker Atlas Hospitality Group has some good news for San Diego’s all-important hospitality sector. He says that sales of hotels in San Diego were up nearly 28%, according to his Atlas annual 2023 Year-End California Hotel Sales Survey. “San Diego County stands out in our 2023 survey as it saw the highest increase…
Read MoreHotel sales plummet in California with deal value falling 53%
In NorCal, volume totals $1.45B as investors take “wait-and-watch” stance to hospitality FEB 7, 2024, 11:36 AM | By TRD Staff The hotel market in California has tumbled down the laundry chute. The overall money spent to buy hotels across the Golden State fell 56.3 percent last year, as investors waited along the sidelines of…
Read MoreNews briefs: Deals tumble in Cali; meet Ella Hotels; Danziger retires
BY JEFFREY WEINSTEIN | FEBRUARY 6, 2024 Breaking news about development, M&A, data and more. Deals tumble in California. California Hotel Sales Survey for end of year 2023 showed that statewide, hotel deals plunged 56.3% (48.3% in Northern California; 60.2% in Southern California), Atlas Hospitality Group reported. Northern California deals hotel totaled $1.45 billion, down from the 2022 total of…
Read MoreHotel deals implode in Bay Area and California as economy turns murky
Dollar value of hotel purchases nose dives in 2023: new report By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: February 6, 2024 at 8:00 a.m. | UPDATED: February 7, 2024 at 4:32 a.m. SAN JOSE — Hotel purchases have nose dived in the Bay Area and across California, in a sign that investors believe the weakness in the lodging…
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