Posts Tagged ‘hospitalityindustry’

By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: August 15, 2023 at 12:00 p.m. | UPDATED: August 16, 2023 at 9:22 a.m. OAKLAND — Sales activity for the hotel markets in the Bay Area and California more broadly imploded during the first half of 2023, in a renewed sign of the sector’s collapse following the coronavirus pandemic. The number…

Blazes Seen Not Only Curbing Tourism in Near Future, but Raising Insurance Costs Over Time By Jack WitthausCoStar News August 10, 2023 | 1:47 P.M. The Hawaii wildfires in Maui that have killed dozens of people and destroyed a wide swath of properties are expected to deal a major blow to the economy on the island…

CHERYL SARFATY THE NORTH BAY BUSINESS JOURNAL August 8, 2023, 3:31PM A real estate firm that tracks the state’s hotel industry has released its midyear hotel development report, which shows a sector that largely remains stalled in the face of an uncertain economy. Among the findings, over the past two years as of June, California…

AUGUST 7, 2023 By: Katie Murar No new hotels opened in Orange County during the first half of the year, as the state continues to experience a post-pandemic drop in hospitality deliveries. Just one hotel has opened in the county since the start of 2022, the 124-room Element Irvine, according to data from Irvine-based Atlas…

JEFF QUACKENBUSH Two Wine Country hotels with a combined 222 rooms are at risk of being sold in foreclosure early next month to cover at least $80.7 million outstanding on the financing. Trustee’s sales are set for the 90-room Cambria Napa Valley hotel at 320 Soscol Ave. in Napa and 132-room Cambria Sonoma Wine Country hotel at 5870 Labath…

Biggest hospitality deal in San Diego area this year JUL 29, 2023, 1:00 PM By TRD Staff In what stands as the region’s largest — and California’s third-largest overall — hospitality deal this year, Chicago-based investment firm GEM Realty Capital bought The Inn at Rancho Santa Fe, a luxurious resort in an affluent enclave near San Diego,…

So far this year, just one new hotel in the county has opened — in downtown San Diego BY LORI WEISBERG AUG. 4, 2023 5:40 AM PT The pace of hotel openings across San Diego continued to be sluggish during the first half of this year, with just one hotel — in downtown San Diego — making…

20 hotels opened during the first half, 46% fewer than the average pace of 2018-21 AUG 2, 2023, 5:26 PM By TRD Staff Hotel California has become Hotel Terminus, with a steep decline in new hospitality suites across the state.  In the first six months of the year, 20 new hotels opened across the Golden State,…

Roland Li Aug. 2, 2023 Updated: Aug. 2, 2023 9:43 a.m. San Francisco’s only new hotel of 2023 is opening in September in the heart of the Financial District, in a major bet on the continued recovery of tourism and business travel. Owner KHP Capital Partners is rebranding the former Le Méridien hotel at 333 Battery St. as…

‘We are forecasting a big decline,” says Atlas Hospitality By JONATHAN LANSNER | jlansner@scng.com | Orange County Register PUBLISHED: August 1, 2023 at 11:01 a.m. | UPDATED: August 2, 2023 at 8:32 a.m. “Crash, correction or chill” looks at economic and real estate trends that offer hints about the depth of housing’s troubles. Buzz: Building new hotels in California is no longer a…

By Alex Barreira – Staff Reporter, San Francisco Business Times Aug 1, 2023 – Updated Aug 1, 2023 5:11pm PDT The seeming torrent of new hotel supply that hit the California market in 2021 and 2022 after Covid delays is petering out in the Bay Area and throughout the state, a new hospitality research report suggests. Through the…

Projects Entering Construction Phase Expected To Decline Over 18 to 24 Months By Bryan WrotenHotel News Now July 31, 2023 | 6:13 AM Fewer hotels opened in California in the first half of 2023 compared to last year, according to a new survey. Atlas Hospitality Group’s California Hotel Development Survey 2023 Mid-Year shows that 20 hotels…