Posts Tagged ‘hotelnews’

Six hotels are bringing about 1,800 rooms to four Bay Area cities By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 17, 2022 at 9:50 a.m. | UPDATED: March 18, 2022 at 3:49 a.m. https://www.mercurynews.com/2022/03/17/hotel-silicon-valley-bay-area-covid-real-estate-economy-tech-recover/ SAN JOSE — A burst of hotel openings in Santa Clara County and the East Bay points to widening confidence that the Bay Area…

By Donald Morrison | Mar 18, 2022 07:29am https://www.hotelmanagement.net/operate/lodging-leaders-discuss-californias-comeback-clic ANAHEIM, CALIF. – Market recovery, inflation and high construction costs in a post-pandemic world were three of the hot topics discussed by lodging industry leaders at this year’s recent California Lodging Investment Conference. The fifth annual CLIC event was held in-person for the first time in two…

BY:   HANNAH MADANS WELK | MARCH 28, 2022 https://labusinessjournal.com/tourism/hotels/the-line-gets-100m-loan/ The Line LA, a popular hotel in Koreatown, has received a $100 million loan. The Line is a 384-room hospitality property at 3515 Wilshire Blvd. Institutional Property Advisors, a division of Marcus & Millichap’s Jordan Ray, Steven Buchwald, Jamie Matheny and Lexington Henn arranged the financing…

June 13, 2022 | Bianca Barragan, Bisnow Southern California https://www.bisnow.com/los-angeles/news/industrial/hotel-to-industrial-conversion-hotel-fullerton-rexford-113391 Rexford Industrial (https://www.bisnow.com/tags/rexford-industrial) spent$45M to buy the Hotel Fullerton (https://www.bisnow.com/tags/hotelfullerton), a 1960s-era property on 7 acres just off the 91 Freeway inFullerton, but Rexford isn’t getting into the hotel business. Instead, the deal offers yet another sign of developers getting creative to find opportunities to…

Sale Points to Rebound for Coachella Valley Hospitality Industry After Two Years of Pandemic By Randyl Drummer | CoStar News April 5, 2022 | 3:49 P.M. https://www.costar.com/article/1084862773/trinity-oaktree-capital-buy-luxury-southern-california-resort-hotel-from-hyatt The Hyatt Regency Indian Wells Resort & Spa near Palm Springs, California, has been sold, the second sale of a large Coachella Valley resort hotel since December as the…

Long-time San Jose hotel is reopening with new operator, manager By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: April 11, 2022 at 10:11 a.m. | UPDATED: April 12, 2022 at 7:25 a.m. https://www.mercurynews.com/2022/04/11/open-big-san-jose-hotel-delay-late-april-real-estate-covid-economy/ SAN JOSE — The reopening of a big downtown San Jose hotel is now slated for late April, a delay of a few weeks triggered by…

Some Room Rates Exceed 2019 Levels in Greater LA, but Occupancy Still Trails Pre-Pandemic Levels By Jack Witthaus | CoStar News April 8, 2022 | 1:30 P.M. https://product.costar.com/home/news/139979861 The Grand Prix of Long Beach has supercharged the region’s hotels, driving occupancy back to pre-pandemic levels and boosting room rates at least for a weekend, an indication…

Utah Investor Acquires Anaheim Property from Special-Services Firm for $57.5 Million By Lou Hirsh | CoStar News April 14, 2022 | 4:28 P.M. https://product.costar.com/home/news/shared/1875836968?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4&t=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJjb250YWN0SWQiOiIxOTgzMzU2IiwiY3VsdHVyZUNvZGUiOiJlbi1VUyIsImlhdCI6MTY1MDAyODkwN30.jrdMV7aFSllbCEkb8yaiQYe8-OMQxU3PooYC_qBsuqg A Utah investor acquired an Anaheim, California, hotel for approximately $57.5 million, as Disneyland’s tourism-focused home region rebounds from effects of the pandemic. Provo-based Dynamic City Capital purchased the 190-room Portofino Inn &…

Deal points to rising values for hotels in Bay Area By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: May 12, 2022 at 11:41 a.m. | UPDATED: May 16, 2022 at 1:11 p.m. https://www.mercurynews.com/2022/05/12/downtown-san-jose-marriott-hotel-3-8-billion-real-estate-deal-covid/ SAN JOSE — Three Bay Area hotels are part of a coast-to-coast lodging deal priced at $3.8 billion that gives one hotel in the transaction, the…

BY ROGER VINCENT | STAFF WRITER JUNE 9, 2022 5 AM PT https://www.latimes.com/business/story/2022-06-09/beverly-hills-development-announces-ultra-luxury-hotel-aman At the Aman resort in the Turks and Caicos Islands, guest villas come with infinity pools and butlers who serve you a private romantic dinner on the beach. In a remote Utah desert, Aman guests can “camp” in tented pavilions with plunge pools and…

https://www.bizjournals.com/sanfrancisco/news/2021/11/02/four-seasons-napa-valley-sunstone-alcion-sale.html By Alex Barreira   Staff Reporter, San Francisco Business Times Nov 2, 2021 Updated Nov 3, 2021, 4:54pm PDT The high-end hotel acquisition market is still red hot. Casein point: The fi ve-star luxury Four Seasons Napa Valleyresort is being sold for a near-record per key price of $2.1million, according to a report in the Wall Street Journal.…