Posts Tagged ‘hospitalityindustry’

20 hotels opened during the first half, 46% fewer than the average pace of 2018-21 AUG 2, 2023, 5:26 PM By TRD Staff Hotel California has become Hotel Terminus, with a steep decline in new hospitality suites across the state.  In the first six months of the year, 20 new hotels opened across the Golden State,…

Roland Li Aug. 2, 2023 Updated: Aug. 2, 2023 9:43 a.m. San Francisco’s only new hotel of 2023 is opening in September in the heart of the Financial District, in a major bet on the continued recovery of tourism and business travel. Owner KHP Capital Partners is rebranding the former Le Méridien hotel at 333 Battery St. as…

‘We are forecasting a big decline,” says Atlas Hospitality By JONATHAN LANSNER | jlansner@scng.com | Orange County Register PUBLISHED: August 1, 2023 at 11:01 a.m. | UPDATED: August 2, 2023 at 8:32 a.m. “Crash, correction or chill” looks at economic and real estate trends that offer hints about the depth of housing’s troubles. Buzz: Building new hotels in California is no longer a…

By Alex Barreira – Staff Reporter, San Francisco Business Times Aug 1, 2023 – Updated Aug 1, 2023 5:11pm PDT The seeming torrent of new hotel supply that hit the California market in 2021 and 2022 after Covid delays is petering out in the Bay Area and throughout the state, a new hospitality research report suggests. Through the…

Projects Entering Construction Phase Expected To Decline Over 18 to 24 Months By Bryan WrotenHotel News Now July 31, 2023 | 6:13 AM Fewer hotels opened in California in the first half of 2023 compared to last year, according to a new survey. Atlas Hospitality Group’s California Hotel Development Survey 2023 Mid-Year shows that 20 hotels…

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…