Posts Tagged ‘hospitalityindustry’

https://www.eastbaytimes.com/2021/03/31/downtown-oakland-moxy-hotel-complete-construct-open-real-estate-covid/ Opportunity zone tax breaks bolster Oakland hotel’s development By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 31, 2021 at 12:09 p.m. | UPDATED: April 1, 2021 at 4:39 p.m. OAKLAND — Downtown Oakland’s bustling Uptown District is about to get a new Moxy Hotel, a welcome change of pace to a dismal year of coronavirus-linked business…

Multifamily, Senior Living, Student Housing Among More Popular Conversions https://www.costar.com/article/577844466?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality_prospect&utm_content=p1 By Bryan Wroten Hotel News Now Mar 24, 2021 | 1:09 P.M. Both private and government buyers are finding real estate conversion opportunities with U.S. hotel owners who are reevaluating the highest and best use of their properties due to the COVID-19 pandemic. Buyers and other…

Court sets May schedule for sale of 15 hotels, including two in Bay Area https://www.mercurynews.com/2021/03/25/real-estate-bankrupt-bay-area-hotel-auction-covid-queen-mary/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 25, 2021 at 6:20 a.m. | UPDATED: March 25, 2021 at 10:14 a.m. SAN JOSE — A bankrupt hotel chain has won court approval for the sale of more than a dozen U.S. hotels,…

Fairmont was nearly empty during worst of the coronavirus outbreak: court papers https://www.mercurynews.com/2021/03/24/fairmont-san-jose-hotel-owner-swift-bankruptcy-case-real-estate-covid/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 24, 2021 at 5:45 a.m. | UPDATED: March 24, 2021 at 2:36 p.m. SAN JOSE — The Fairmont San Jose owners have sketched out a swift endgame for the iconic hotel’s bankruptcy case in the first version…

https://www.sdbj.com/news/2021/mar/10/local-hotel-market-recovering/ By Ray Huard Wednesday, March 10, 2021 Investors are starting to take a renewed interest in San Diego County hotels with industry experts predicting that 2021 will be a year of strong recovery. “There’s definitely been a change in how buyers look at hotels and I would say the one word that sums it up…

https://www.pacificsandiego.com/latest/story/2021-03-18/its-official-lafayette-hotel-sold-for-25-8m Prolific restaurant group known for Little Italy dining venues is the buyer of the historic El Cajon Boulevard property By LORI WEISBERG SAN DIEGO UNION-TRIBUNE MARCH 18, 2021 7:29 PM PT The historic Lafayette hotel, a North Park landmark that dates to the 1940s, has been sold to a local restaurant group for $25.8 million. The…

Local hotels being auctioned off are part of $470 million sales package https://www.mercurynews.com/2021/03/11/real-estate-bay-area-hotels-bankruptcy-auction-block-covid-travel/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 11, 2021 at 5:45 a.m. | UPDATED: March 11, 2021 at 4:25 p.m. SAN JOSE — Two hotels in the Bay Area, one in the South Bay and the other on the Peninsula, are part of a…

Fairmont San Jose owners seek favorable financing, improved management, new brand through bankruptcy https://www.mercurynews.com/2021/03/08/bankrupt-fairmont-hotel-spur-downtown-san-jose-rebound-covid-tourism/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 8, 2021 at 9:26 a.m. | UPDATED: March 9, 2021 at 8:30 a.m. SAN JOSE — Once it emerges from bankruptcy, downtown San Jose’s iconic Fairmont Hotel could help fuel a rebound in the city’s urban…

https://spectrumnews1.com/ca/san-fernando-valley-ventura/business/2021/02/22/project-homekey-makes-up-most-of-california-s-hotel-sales BY JOSEPH PIMENTEL ORANGE COUNTY PUBLISHED 8:00 AM ET FEB. 23, 2021 IRVINE, Calif. — Gov. Gavin Newsom’s Project Homekey accounted for $890 million of hotel sales in California last year, reviving what would have been a paltry year in terms of hotel transactions in the state. While sales of hotels across the nation sagged due to…

https://www.bisnow.com/national/news/hotel/hotel-bankruptcies-becoming-more-frequent-as-lenders-lose-patience-with-recovery-107807 February 18, 2021 Jon Banister, Bisnow Washington, D.C. The past year has been a historically harmful time for the hotel industry as the coronavirus pandemic pushed demand off a cliff, and it has yet to climb back up. This fall wasn’t accompanied by an avalanche of hotel bankruptcies, as lenders provided enough forbearance to keep hotel owners…