Posts Tagged ‘hotelnews’
California 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 MoreDowntown 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…
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