Posts Tagged ‘hotelnews’
2023 Development Update: Los Angeles
Revamped icons and bold newcomers help shape LA’s hospitality renaissance Words by: Will Speros • Photos by Sam Frost, Caylon Hackwith, and the Ingalls Although 2022 saw rising costs lead to a slowdown in Los Angeles hotel development, Atlas Hospitality Group reports, the city still closed the year with the third-biggest hotel construction pipeline in the…
Read MoreAppraisal Meant to Determine if Housing Commission Overpaid for Pandemic-Era Hotel Can’t Answer That Question
by Andrew Keatts | March 17, 2023 It didn’t answer the question. The San Diego Housing Commission released to the City Council Thursday the new appraisal of a Mission Valley hotel it bought to turn into housing for formerly homeless people. Nearly three years ago, the Housing Commission acquired the property for $67 million with the help of…
Read MoreOver-the-top bar and restaurant scene, high-rise hotels set to open in downtown L.A.
BY ROGER VINCENT STAFF WRITER Photography by ROBERT GAUTHIER APRIL 3, 2023 5 AM PT A high-rise with two hotels and an over-the-top restaurant and bar scene is set to open this month by Crypto.com Arena in downtown Los Angeles as travelers embrace the road again and the hospitality business climbs out of the crater it sunk into during the…
Read MoreCalifornia hotel sales finish 2022 better than expected
CHERYL SARFATYTHE NORTH BAY BUSINESS JOURNALMarch 21, 2023 After a strong first half of 2022, California hotel sales in the second half of the year were predicted to show a large drop because of increased interest rates and economic uncertainties. But according to a report by Atlas Hospitality Group, a Newport Beach-based commercial real estate firm…
Read MoreResidence Inn sells for $28M in East Bay
Transaction aligns with declining hotel room values San Francisco / September 16, 2022 08:30 AMBy Pawan Naidu | Research By Christian Bautista and Caysey Welton Hotels aren’t worth what they used to be, but they’re still worth a lot. A Residence Inn hotel in an East Bay suburb sold for $28.5 million, or $226,000 per room, according to public records. Despite the somewhat…
Read MoreBay Area hotel purchases slump amid inflation, price uncertainty
Hotel purchases show weakness during first half of 2022 By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: September 12, 2022 at 1:30 p.m. | UPDATED: September 13, 2022 at 4:56 a.m. The Bay Area market for hotel purchases slumped during the first half of 2022 compared to the same period the year before amid inflation woes and fast-rising interest…
Read MoreAnalysts Make Case for Optimism on Hotel Performance for Rest of Year (skift.com)
Sean O’Neill, Skift September 9th, 2022 at 2:00 AM EDT Skift Take Talk of inflation has soured some people on the prospects for hotels for the rest of the year. But some analysts, such as CBRE and Truist, have upgraded their views. Plus, Asia’s recovery and other news items. — Sean O’Neill Sunday, Sept. 4 After a record-breaking…
Read MoreAfter Slowdown in Property Sales, ‘Repricing’ Becomes This Summer’s Dreaded Word
Rising Interest Rates, Other Economic Challenges Plague Commercial Real Estate Nationally By Ryan Ori | CoStar NewsAugust 23, 2022 | 10:53 AM Summer lulls are nothing new in commercial real estate, but this year’s slowdown in deals is more pronounced because of one word that has defined the season: repricing. Rising interest rates, inflation and worries…
Read MoreAtlas Report Shines Spotlight on Hotel Sales in California
HOSPITALITY: Hotel Transactions Cooling Off in 2022 BY KAREN PEARLMAN | SEPTEMBER 2, 2022 After a record-breaking 2021 for hotel sales in California, including the highest number of individual hotel sales and total dollar volume sales in San Diego County, hotel transactions have cooled off in the state and region in the first six months…
Read MoreCalifornia hotel buyers’ price per room goes up, deals down
Focus shifts to luxury properties even as cost for capital climbs Los Angeles Archive / August 18, 2022 02:30 PMBy Isabella Farr If you’re looking to buy a hotel in California, expect to pay a record median price per room. The median price for a hotel per room hit $143,400 in the first half of this year — up 13…
Read MoreCalifornia hotel sales reach record price per room — but not in San Diego
The Moxy hotel was the priciest sale in San Diego County during the first six months of 2022 (Courtesy of CoStar) The priciest hotel sale in San Diego County during the first six months of the year was the 126-room Moxy, a hip boutique hotel by Marriott. BY LORI WEISBERG AUG. 18, 2022 4:24 PM PT Even…
Read MoreThough Slower-Paced, California Hotel Sales Set New Record for Median Price Per Room
State Program, Investors Continue To Seek Hotels To Convert to Housing By Bryan Wroten | Hotel News NowAugust 16, 2022 | 1:30 P.M. While hotel sales in California cooled from their highs last year, transactions during the first half of 2022 set a new median-price-per-room record and approached other records as well. Atlas Hospitality Group’s California…
Read More