CA License #01216856
https://www.costar.com/article/431511153?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality_prospect&utm_content=p6 New Openings Drop by Nearly a Third in 2020 as Project Lending Remains Scarce By Lou Hirsh – CoStar News Jan 27, 2021 | 11:54 P.M. An almost 30% year-over-year drop in new California hotel developments and openings last year could be a sign of what’s to come in a state where hospitality demand typically…
Eagle Hospitality Trust, the Singapore-based group that operates the iconic Queen Mary and the Sheraton Pasadena, has filed for Chapter 11 bankruptcy protection. In total, more than two dozen hotels and other properties were part of the filing by the company, which has more than $500 million in debt. Eagle Hospitality stopped trading on…
https://www.mercurynews.com/2021/01/21/real-estate-hotel-owner-bay-area-bankrupt-covid-economy-jobs-eagle/ Hotels in South Bay, Peninsula are caught up in owner’s bankruptcy By GEORGE AVALOS | gavalos@bayareanewsgroup.com | Bay Area News Group PUBLISHED: January 21, 2021 at 5:45 a.m. | UPDATED: January 21, 2021 at 3:32 p.m. SAN JOSE — The owner of two Bay Area hotels, one in San Jose and one in San Mateo, has filed for bankruptcy, grim…
Operator of Queen Mary in Long Beach files for bankruptcy – Los Angeles Times (latimes.com) By HUGO MARTÍNSTAFF WRITER JAN. 20, 2021 3:48 PM The real estate investment trust that operates the Queen Mary in Long Beach and owns 26 other hotels filed for bankruptcy protection this week, signaling what could be the start of a…
La Jolla firm joins rush to acquire financially troubled hotels amid pandemic – La Jolla Light The newly formed Torrey Pines Hotel Group will join a Los Angeles-based firm to buy up financially distressed hotels at discounted rates and manage them long-term. By LORI WEISBERG JAN. 18, 2021 10 AM As hotels struggle to survive a…
https://therealdeal.com/la/2020/12/18/an-inhospitable-market-las-biggest-hotel-sales-plunge-in-2020/?utm_source=internal&utm_medium=after_article&utm_campaign=related_article Large deals have been few and far between as investors wait out pandemic Los Angeles / December 18, 2020 08:50 AM By Matthew Blake | Research By Jerome Dineen This was a bad year to sell a hotel. Only two of the five biggest Los Angeles County hotel sales in 2020 would have made the cut for last year’s top five, according…
https://patch.com/california/paloalto/palo-alto-hotel-sells-32-7m-report The Palo Alto property is among five Oxford Capital purchased for a combined $111 million according to the report. By Gideon Rubin, Patch Staff Dec 18, 2020 5:19 pm PT PALO ALTO, CA — A Palo Alto hotel has been sold amid a Chicago-based investment group’s Monopoly board-style Bay Area buying spree. Oxford Capital paid…
$91.5 Million Trade is California’s Fifth Priciest Amid Pandemic Conditions https://product.costar.com/home/news/shared/1439334782?utm_source=newsletter&utm_medium=email&utm_campaign=personalized&utm_content=p4 By Lou Hirsh / CoStar News December 16, 2020 | 5:25 P.M. Sunstone Hotel Investors sold the 502-room Renaissance Los Angeles Airport hotel for $91.5 million in the L.A. market’s second-priciest hotel deal by sum of 2020, a tough year for hospitality properties amid the coronavirus…
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…
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…
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…
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…
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.