Posts Tagged ‘hotelnews’
Real estate: Big Silicon Valley, S.F. hotel deal is priced at $111 million
Major investor buys hotels in Palo Alto, Los Gatos, and San Francisco https://www.mercurynews.com/2020/12/14/real-estate-big-silicon-valley-s-f-hotel-deal-price-111-million-covid/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: December 14, 2020 at 8:20 a.m. | UPDATED: December 16, 2020 at 10:17 a.m. PALO ALTO — A big Midwest investment group has spent $111 million to buy five Bay Area hotels, including two in Silicon Valley, a…
Read MoreHotel Openings and Construction Are Slowing Across the State
BY JOSEPH PIMENTEL ORANGE COUNTY PUBLISHED 5:45 PM ET AUG. 20, 2020 The pace of new hotel openings in California is going down. After the state saw a record number of hotel openings and construction, the coronavirus-catalyzed economic downturn has slowed new hotel openings and developments in Orange County and throughout California through the first half of…
Read MoreBay Area officials want to purchase your hotel. Here’s why and what you should know
https://www.bizjournals.com/sanfrancisco/news/2020/07/30/bay-area-officials-sprint-project-roomkey.html By Alex Barreira – Staff Reporter, San Francisco Business Times Jul 30, 2020, 4:27pm PDT Updated Jul 30, 2020, 4:29pm PDT A new state initiative is granting Bay Area officials about $100 million to purchase permanent housing for the homeless, opening a potential exit route for some struggling hotel owners. It’s part of Project Roomkey, a project which aims…
Read MoreLA Celebrity Hideaway Chateau Marmont Could Become Private Residential Club
Iconic Property’s Owner Explores New Model as Pandemic Hits Hotels Hard https://product.costar.com/home/news/shared/616076017?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 By Lou Hirsh CoStar News July 29, 2020 | 6:46 P.M. The iconic Chateau Marmont hotel, a nearly century-old landmark off Los Angeles’ famed Sunset Strip and known as a secluded luxury stopover for celebrities, is being eyed by its current owner for a conversion…
Read MoreMotels are having a moment. It’s a coronavirus thing
https://www.latimes.com/business/story/2020-07-24/motels-coronavirus-design By ROGER VINCENTSTAFF WRITER JULY 24, 2020 11:03 AM After many years of being looked down on, motels are getting new respect in the era of social distancing. Guests at open-corridor inns may come and go without passing through crowded lobbies, packed elevators or enclosed hallways where viruses may linger. “In outdoor corridors, people feel safe,” said…
Read MoreWest Elm Hotel Plans Stall With Lawsuit Involving Development Partner
Some of Retailer’s Hotel Development Sites Were Replaced With New Operators https://product.costar.com/home/news/1613864686?tag=1 By Katie Burke CoStar News July 22, 2020 | 09:09 AM Home furnishings retailer West Elm’s plans to enter the hospitality industry by building at least six hotels across the country appear to have hit a snag amid delays and legal battles, threatening…
Read MoreLuxury Hotel Seized in Malaysian Financial Case Heads to Auction in Posh Beverly Hills
Court to Sell Off California’s Viceroy L’Ermitage After Former Owner’s International Legal Troubles https://product.costar.com/home/news/shared/1827109742?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 By Lou Hirsh CoStar News July 20, 2020 | 4:10 P.M. A luxury Beverly Hills, California, hotel that is popular with celebrities could be sold at a discount in a court-ordered auction next month, following what international law enforcement officials call a money laundering…
Read MoreL’Ermitage Luxury Hotel Headed for Auction
Bidding will start at $104 million https://labusinessjournal.com/news/2020/jul/13/lermitage-luxury-hotel-headed-auction/ By Hannah Madans Monday, July 13, 2020 The Viceroy L’Ermitage Beverly Hills hotel could have a new owner soon. The luxury hotel, which was seized in a money laundering scandal involving financier Jho Low, will be sold at auction Aug. 19. Matthew Bordwin of real estate brokerage Keen-Summit Capital…
Read MoreFamous hotel is for sale — while ex-owner’s on the lam
L’Ermitage in Beverly Hills will fetch at least $100 million By Roger Vincent https://www.latimes.com/business/story/2020-07-10/court-ordered-sale-viceroy-lhermitage-beverly-hills-hotel Bidding has commenced in an auction of the Viceroy L’Ermitage Beverly Hills, a legendary hotel last owned by a highflying Malaysian investor now on the lam after being accused of embezzling billions of dollars from his country’s government. The low-key boutique…
Read MoreDespite Coronavirus Spikes, Disneyland And Orange County Hotels Brace For Reopening
June 11, 2020 Joseph Pimentel, Bisnow Southern California | Email Reeling from a coronavirus-catalyzed drop in tourism and business, hoteliers in Anaheim are closely watching the reopening of the Disneyland Resort and the visitors it may bring to the area. “This is huge news,” Wincome Group CEO and Asset Manager Paul Sanford said to Bisnow an hour after…
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