Posts Tagged ‘hospitalityindustry’
Hotel sales implode in Bay Area and California as lodging woes widen
High interest rates and inflation weigh down hotel sector By George Avalos | gavalos@bayareanewsgroup.com | Bay Area News Group UPDATED: August 9, 2024 at 4:24 p.m. SAN JOSE — Hotel purchases have imploded in California and the Bay Area, a fresh sign that post-coronavirus economic ailments, including high interest rates, still impair the weak lodging sector statewide. Investors paid an…
Read MoreCalifornia, Bay Area hotel sales slow to trickle in 2024Deals
Alex Barreira, Staff Reporter Aug 9, 2024, 12:46pm PDT California hotel sales so far this year have plummeted by nearly half since last year, with the state’s most significant drop in Alameda County. For the first half of 2024 year-over-year sales volume — measured by the dollar volume of transactions, rather than number of individual…
Read MoreCalifornia Hotel Deals Dollar Volume Drops Nearly 50% in First Half of 2024
Deals Pace Expected To Increase in Second Half of Year By Bryan Wroten | Hotel News Now | August 9, 2024 | 6:50 AM California hotel deals dollar volume during the first half of 2024 dropped nearly 50% compared to the same period in 2023. The California Hotel Sales Survey 2024 Mid-Year from Atlas Hospitality Group…
Read MoreSan Jose Signia by Hilton closes in on refi for $165M debt
Eagle Canyon Capital looks for fresh capital after selling hotel tower for student housing Aug 1, 2024, 6:02 PM | By TRD Staff The ownership group of a prominent hotel in downtown San Jose claims to be close to a refinance of its $165 million debt package even as the holder of a $29 mezzanine…
Read MoreCalifornia Hotel Development Struggles in Current Lending Environment
July, 30 2024 | Excerpt from CoStar Twenty-two hotels opened in California during the first half of the year, according to a midyear survey, highlighting the ongoing challenges hotel developers face across the U.S. and in California in particular. Atlas Hospitality Group’s California Hotel Development Survey Mid-Year 2024 reports that the 22 openings were an…
Read MoreReport: California’s Hotel Industry Shows Decrease in Rooms, New Hotels
July 30, 2024 | By Lilly Riddle The first half of 2024 presented a nuanced landscape for hotel development in California, according to a recent report from Atlas Hospitality Group. A 10 percent increase in new hotel openings compared to the same period in 2023 indicated continued growth, but this was counterbalanced by a 15 percent…
Read MoreCalifornia Hotel Development Struggles in Current Lending Environment
22 Hotels Opened in State During First Half of Year By Bryan Wroten | Hotel News Now | July 29, 2024 | 5:49 AM Twenty-two hotels opened in California during the first half of the year, according to a midyear survey, highlighting the ongoing challenges hotel developers face across the U.S. and in California in particular.…
Read MoreSan Diego records biggest hotel sale so far this year: $165M
The golf course-adjacent resort commanded a purchase that is among the highest in the Western U.S. in 2024. By LORI WEISBERG | The San Diego Union-Tribune UPDATED: July 24, 2024 at 4:07 p.m. In what is the single biggest hotel sale so far this year, the 394-room Hilton La Jolla Torrey Pines resort has been acquired for $165…
Read MoreWestin Hotel Gets $20M Makeover
HOSPITALITY: Recent Hotel Renos Reflect ‘Strong Market’ BY RAY HUARD | JULY 15, 2024 SAN DIEGO – The Westin San Diego Bayview has completed a $20 million renovation that general manager Peter Engard said is meant to provide “an unparalleled experience” that reflects the hotel’s location in Emerald Plaza that lights up the San Diego…
Read MoreWhy San Francisco’s recovery is tied to its struggling hotel industry
By Kevin V. Nguyen Published Jul. 09, 2024 • 6:00am The historic Huntington Hotel at the top of Nob Hill celebrated its 100th birthday while its doors were shuttered in 2022. But unlike other major hotels in San Francisco, the 12-story, 135-room luxury property never managed to re-open under the previous owners once the pandemic ended. Instead,…
Read MoreLittle Italy hotel changes hands for more than $61M
The change in ownership comes just five years after the 16-story property opened in downtown San Diego By LORI WEISBERG | The San Diego Union-Tribune PUBLISHED: July 9, 2024 at 10:09 a.m. | UPDATED: July 9, 2024 at 11:05 a.m. Nearly five years after the gleaming 16-story Carte hotel opened in Little Italy, it has been sold to a global…
Read MorePetco Park-adjacent hotel gets a new baseball-themed look
The Omni San Diego is close to completing its largest renovation ever that will include two new venues for dining and drinking By LORI WEISBERG | The San Diego Union-Tribune PUBLISHED: June 28, 2024 at 5:30 a.m. | UPDATED: June 28, 2024 at 5:31 a.m. The 32-story Omni hotel next door to Petco Park is nearing the end of a…
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