Posts Tagged ‘hospitalityindustry’

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…

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…

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…

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…

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…