Posts Tagged ‘hospitalityindustry’

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…

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…

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…

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…

Decline in 2023 Is Second Only to 2009 By Bryan WrotenHotel News Now February 6, 2024 | 6:04 AM California’s individual hotel sales dropped 45% year over year in 2023, surprising no one. What did come as a bit of a surprise for Alan Reay, president of Atlas Hospitality Group — which produced its annual year-end…

Affordable housing is in short supply in the Golden State. By Neil Pierson California is attractive for many reasons. The weather is warm but milder than many other states. The natural beauty is highlighted by nine national parks, more than any other state. And jobs in the Golden State tend to pay well as the…

by Tom York Orange County’s Atlas Hospitality Group. reports that during 2023 two hotels with a total of 267 rooms opened in San Diego County. The largest was the 145-room AC Hotel San Diego. The hospitality real estate broker reported there are currently six hotels with 2,191 rooms under construction in the county. The largest is the…

Compromise requires builders to replace homes demolished by development By TRD Staff | JAN 22, 2024, 11:36 AM Hotel developers in Los Angeles must now replace homes demolished for hospitality suites. The City Council passed a law early last month requiring new hotel projects to replace displaced housing units on a one-for-one basis, Hotel News…

No new hotels opened in SF in 2023 JAN 19, 2024, 12:30 PM | By Daria Solovieva Last year wasn’t a walk in the park for California developers and the latest numbers show it. A biannual survey by brokerage firm Atlas Hospitality Group published this week indicated the hotel supply issues are likely to persevere…

High Barriers To Entry Make Construction Harder To Justify Financially By Bryan Wroten | Hotel News Now | January 19, 2024 | 6:28 AM A new law in Los Angeles could have a dramatic effect on hotel development in the city — that is, if hotel developers didn’t already feel constrained by the overall environment there.…

Lousy market torpedoes hotel projects and openings statewide By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: January 17, 2024 at 1:50 p.m. | UPDATED: January 18, 2024 at 6:17 a.m. SAN JOSE — Hotel construction and new openings have cratered in the Bay Area and throughout California, fresh evidence of a brutal commercial real estate market statewide, a new…