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https://www.pacificsandiego.com/latest/story/2021-03-18/its-official-lafayette-hotel-sold-for-25-8m Prolific restaurant group known for Little Italy dining venues is the buyer of the historic El Cajon Boulevard property By LORI WEISBERG SAN DIEGO UNION-TRIBUNE MARCH 18, 2021 7:29 PM PT The historic Lafayette hotel, a North Park landmark that dates to the 1940s, has been sold to a local restaurant group for $25.8 million. The…
CH Projects Plans New Food, Beverage Options for Historic Lafayette Hotel https://product.costar.com/home/news/shared/1867548097?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p6 By Lou Hirsh CoStar News March 19, 2021 | 3:28 P.M. The historic Lafayette Hotel in San Diego, which attracted stars such as Bob Hope and Katharine Hepburn during its heyday in the 1940s and ’50s, has been sold to a restaurant operator that is…
Local hotels being auctioned off are part of $470 million sales package https://www.mercurynews.com/2021/03/11/real-estate-bay-area-hotels-bankruptcy-auction-block-covid-travel/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 11, 2021 at 5:45 a.m. | UPDATED: March 11, 2021 at 4:25 p.m. SAN JOSE — Two hotels in the Bay Area, one in the South Bay and the other on the Peninsula, are part of a…
Fairmont San Jose owners seek favorable financing, improved management, new brand through bankruptcy https://www.mercurynews.com/2021/03/08/bankrupt-fairmont-hotel-spur-downtown-san-jose-rebound-covid-tourism/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 8, 2021 at 9:26 a.m. | UPDATED: March 9, 2021 at 8:30 a.m. SAN JOSE — Once it emerges from bankruptcy, downtown San Jose’s iconic Fairmont Hotel could help fuel a rebound in the city’s urban…
Upscale, iconic Fairmont in downtown San Jose closes doors — but will reopen within a few months https://www.eastbaytimes.com/2021/03/05/fairmont-hotel-downtown-san-jose-bankruptcy-covid-real-estate/ By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: March 5, 2021 at 4:18 p.m. | UPDATED: March 8, 2021 at 5:50 a.m. SAN JOSE — The Fairmont Hotel, a landmark in downtown San Jose, filed for bankruptcy on Friday…
https://spectrumnews1.com/ca/san-fernando-valley-ventura/business/2021/02/22/project-homekey-makes-up-most-of-california-s-hotel-sales BY JOSEPH PIMENTEL ORANGE COUNTY PUBLISHED 8:00 AM ET FEB. 23, 2021 IRVINE, Calif. — Gov. Gavin Newsom’s Project Homekey accounted for $890 million of hotel sales in California last year, reviving what would have been a paltry year in terms of hotel transactions in the state. While sales of hotels across the nation sagged due to…
https://www.bisnow.com/national/news/hotel/hotel-bankruptcies-becoming-more-frequent-as-lenders-lose-patience-with-recovery-107807 February 18, 2021 Jon Banister, Bisnow Washington, D.C. The past year has been a historically harmful time for the hotel industry as the coronavirus pandemic pushed demand off a cliff, and it has yet to climb back up. This fall wasn’t accompanied by an avalanche of hotel bankruptcies, as lenders provided enough forbearance to keep hotel owners…
Signs of Hospitality Distress Growing As Pandemic Drags On https://www.costar.com/article/1892720472/hotel-portfolio-heads-for-possible-sell-off-amid-bankruptcy-filing By Lou Hirsh – CoStar News Jan 22, 2021 | 1:13 AM A prominent Singapore-based hospitality operator has begun the process of selling off an 18-hotel U.S. portfolio amid a bankruptcy filing, the latest sign of financial struggle for the hard-hit hotel industry. Eagle Hospitality Trust this…
https://timesofsandiego.com/business/2021/02/22/tom-york-on-business-gov-newsoms-project-homekey-kept-california-hotels-afloat-in-2020/ by Tom York Times of San Diego Orange County hospitality expert Alan Reay recently released his annual 2020-year-end survey of hotel sales transactions in the state. The report is always of interest because of the importance of hotel industry to the state and San Diego economy. Some highlights of the report: COVID-19 had a “devastating impact” on…
By Alex Barreira Staff Reporter, San Francisco Business Times Feb 25, 2021 Updated Feb 25, 2021, 2:40pm PST In the dog days of last summer, Pebblebrook Hotel Trust CEO Jon Bortz was more apt to spit at San Francisco than sing its praises. Pebblebrook owns 12 hotels here — about 10% of the city’s room count — and at that point…
https://www.costar.com/article/486141428?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality_prospect&utm_content=p2 California’s Project Homekey Boosted Transaction Volume By Bryan Wroten Hotel News Now Feb 17, 2021 | 8:52 AM The COVID-19 pandemic has had opposite effects on California hotel transactions and development in 2020, slightly increasing the number of deals while slowing the pace of new construction. The slower pace of development and delayed openings last year,…
https://www.bizjournals.com/sanfrancisco/news/2021/02/17/newsom-homekey-peskin-homeless-hotels-sale.html By Alex Barreira – Staff Reporter, San Francisco Business Times Feb 17, 2021 Updated Feb 17, 2021, 8:13pm PST A recent shift in federal policy has freed up $83 million in local funding for a state program meant to convert hotels into permanent housing, sweetening the pot for struggling hotel owners to flip their properties at alluring above-market rates….
Atlas Hospitality Group, which specializes in the sale of California hotels, was founded by Alan X. Reay in 1997. Since its inception, Atlas has sold more hotels in the state than any other brokerage firm.