Posts Tagged ‘hospitalityindustry’

by Tom York 2 days ago The price of an apartment in San Diego appears to be moderating a bit. Renters here, especially those looking for new places to live, saw continued relief as Realtor.com’s July Rental Report revealed a third consecutive month of declining year-over-year costs for studio, one- and two-bedroom properties. The drop of 1.0% from July…

Hotel Performance in Hawaii; Insights from Hotel Data Conference; and More By Dana MillerHotel News Now August 23, 2023 | 5:31 AM IHG’s New Midscale Brand IHG Hotels & Resorts unveiled its newest and 19th brand, Garner, which will initially be focused in the U.S. and be positioned as a midscale conversion brand, reports Hotel News Now’s…

Aug 21, 2023 By Alex Barreira – Staff Reporter, San Francisco Business Times Updated Aug 21, 2023 4:52pm PDT The rate of hotel sales across the Bay Area and around California has fallen as sharply in the first half of this year as any point since 2009. Across Northern California including all nine Bay Area counties there have…

ByJames Forsyth – Aug 18, 2023 The Bay Area and Southern California are experiencing a significant downturn in hotel sales, as investors quickly exit the market. According to the San Jose Mercury News, the number of hotels sold in California during the first half of the year has plummeted, surpassing the lows seen during the…

CHERYL SARFATY THE NORTH BAY BUSINESS JOURNAL August 17, 2023, 7:09PM Sales of California hotel properties for the first half of 2023 have fallen more than 53% compared to the same time last year, according to a company that tracks hotel sales. In its newly published hotel sales survey for midyear 2023, Newport Beach-based Atlas…

Activity during H1 2023 is biggest plunge since the Great Recession. By Jack Rogers | August 18, 2023 at 06:03 AM Sales activity for the hotel markets in California imploded in the first half of this year at a pace that seems even worse than the collapse experienced during the Great Recession of 2008 and 2009. The number…

Decline eclipses market of the Great Recession: “We have seen nothing like this” AUG 17, 2023, 2:15 PM By TRD Staff Hotel sales from the Bay Area to Southern California are in the lurch, with investors fleeing toward the exits. The number of hotels sold in the Bay Area and across the state plunged during the…

Thursday, August 17, 2023 By Thor Kamban Biberman High interest rates are scuttling many hotel sales, other hotel owners don’t want to sell, and finding financing for new hotels is extremely challenging, according to the latest report from Atlas Hospitality Group. San Diego County’s individual sales decreased 48 percent year-over-year in the first half of…

Statewide, the decline in hotel sales so far this year is the steepest drop in two decades as lenders shy away from financing multi-million-dollar transactions. BY LORI WEISBERG AUG. 17, 2023 5:30 AM PT San Diego County hotels may be enjoying one of their best years ever as demand for leisure travel continues to ramp up, but…

August 16, 2023 Bianca Barragán, Southern California  Hotel sales in Los Angeles County declined nearly 53% in the first half of 2023 compared to the same time last year, according to a report this week from Atlas Hospitality Group.  Only 17 hotels in LA County traded hands in the first half of this year, down from 36 sales…

By Roy Wright  AUG 16, 2023 Sales activity in the hotel markets of the Bay Area and California has experienced a sharp decline in the first half of 2023, signaling the devastating impact of the coronavirus outbreak on the sector. The number of hotels sold during this period has dropped significantly, reminiscent of the recession…

Disconnect Over Prices Keeps Buyers, Sellers at Odds The Fairmont Century Plaza in Los Angeles sold for $760 million in a foreclosure sale during the first half of 2023. (Accor) By Bryan Wroten / Hotel News Now August 16, 2023 | 6:07 AM The number of individual hotel sales in California during the first half of…