Posts Tagged ‘hotelnews’
Downtown San Diego’s Hotel Palomar is getting a $25M makeover — and a new name
The hotel that began life 14 years ago as a tony downtown property and later was reinvented as the Hotel Palomar will now be reimagined yet again — as the Kimpton Alma, with a new design, new branding and a change in dining venues. The renovation is expected to be complete by this fall. BY LORI…
Read MoreVacation inflation: California sees big jump in hotel room rates
Occupancy runs 75%, up 6 percentage points over 12 months By JONATHAN LANSNER | jlansner@scng.com | Orange County RegisterPUBLISHED: August 13, 2022 at 7:24 a.m. | UPDATED: September 1, 2022 at 10:35 a.m. ”Survey says” looks at various rankings and scorecards judging geographic locations while noting these grades are best seen as a mix of artful interpretation and data. Buzz: Hotel room rates…
Read MoreBiotech-Focused IQHQ Buys San Diego Hyatt Regency in Rare Hospitality Acquisition
Biotech-Focused IQHQ Buys San Diego Hyatt Regency in Rare Hospitality Acquisition (costar.com) Deal Comes After Growing Life Science REIT’s $200 Million Office Purchase in Same Mixed-Use Complex By Lou Hirsh | CoStar NewsAugust 10, 2022 | 1:02 P.M. Biotech-focused IQHQ has made a rare hospitality purchase, acquiring the upscale Hyatt Regency La Jolla at Aventine hotel in San Diego for more…
Read MoreBillionaire Mulls $650M Montage Laguna Beach Purchase: Report
The Montage Laguna Beach luxury resort may be getting a new owner in the near future. Patch.com – Posted Fri, Nov 4, 2022 at 10:39 am PT LAGUNA BEACH, CA — Montage Laguna Beach may come under new ownership in the future, after the Wall Street Journal reported a possible sale of the luxury resort this…
Read MoreTIME Hotels expands into Morocco
Time Hotels – 2 min read 3 November 2022 UAE-headquartered hospitality company signs agreement to manage equestrian eco-resort in Morocco’s Atlas Mountains UAE-headquartered TIME Hotels has signed an agreement to manage 35 luxurious lodges in an equestrian eco-resort in Ifrane’s National Park in Morocco’s Atlas Mountains, its first property in the North African country. The Atlas Crown Collection…
Read MoreBloomberg: Billionaire Tilman Fertitta to buy Montage Laguna Beach
By: Dana BartholomewNovember 3, 2022 Resort’s reported price of $650M would represent record-setting $2.5M per room. If deal goes through, “World’s Richest Restaurateur” would pay $2.5M per room Billionaire Tilman Fertitta is nearing a deal to buy the 258-room Montage Laguna Beach resort for at least $650 million. The casino owner is on the brink…
Read MoreBillionaire Tilman Fertitta reportedly considering $650-million purchase of the Montage Laguna Beach
By: Andrew TurnerNovember 3, 2022 A Laguna Beach luxury resort could soon have new ownership, as reports have surfaced indicating that billionaire Tilman Fertitta has shown interest in acquiring the Montage Laguna Beach. The resort is owned by China-based Dajia Insurance Group Co., which has asked for as much as $700 million for the sale…
Read MorePrized Marriott La Jolla Hotel Sold to New Owners in $187.6 Million Deal
News Source: www.lajolla.com November 3, 2022 The Marriott La Jolla has been sold in a $187.6 million deal that marks the second most expensive San Diego hotel sale this year. Marriott La Jolla is a 376-room property that was first built in 1985. According to the San Diego Union-Tribune, it has been sold as part of…
Read MoreBillionaire weighs buying Montage Laguna Beach resort for $650 million
The buyer is rumored to be restaurant and hotel owner Tilman Fertitta By: Staff & News Service ReportsNovember 2, 2022 Is the Montage Laguna Beach luxury resort about to get a new owner? Bloomberg News reports billionaire Tilman Fertitta is close to acquiring the 250-room oceanview hotel in Orange County for about $650 million, according…
Read MoreHotel Sales Surged To Pre-Pandemic Levels Last Year, Reflecting Investor Confidence
As leisure travel made a comeback last year, deals for hotels worth $25M or more reached levels not seen since 2018. Total sales nearly quadrupled in 2021 compared to 2020, reaching $21.5B, Real Estate Alert reported. That number represents a 265% year-over-year increase, demonstrating investors’ confidence in the travel sector’s recovery and rising interest in deploying capital…
Read MoreHyatt Place S.F. sells as hotel sales stay hot
More than half a billion dollars worth of S.F. hotels changed hands in 2021. We knew it was a hot year for California hotel flipping in2021, but the numbers out this week from Atlas Hospitality’s year-end hotel sales survey show just how unprecedented it really has been.Case in point: On Monday morning it was announced…
Read MoreCalifornia Hotels Saw ‘Unprecedented Sales Volume’ In 2021
As the hospitality industry continues to recover from the coronavirus pandemic, California hotels set new investment records in 2021. A 2021 year-end report from hotel brokerage Atlas Hospitality Group found individual hotel sales in the state surged 71% over the previous year to a record 510 transactions. Dollar volume for hotels also hit a record $9.9B, and a record number of…
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