Report: California Sees Record Number of Hotel Developments in 2021 Despite Rising Construction Costs
By Catherine Sweeeney
California’s hotel industry ended the 2021 year on a positive note, with a new record high of hotels opening across the state. According to a year-end hotel...
The Westin San Jose Trades Hands, Selling for $44.9MM
By Meghan Hall
A historic hotel in downtown San Jose has traded hands as the hospitality sector continues to face headwinds due to the pandemic. The Westin San Jose--previously known...
Sky Hotels Buys 89-Room Hotel in Lodi for $15MM
By Jon Peterson
Chowchilla, Calif.-based Sky Hotels has closed on the acquisition of the 89-room Holiday Inn Express in Lodi. The final purchase price was $15.35 million, or $172,471 per door,...
Silicon Valley Hotels Sell for $117.3MM Even as Recovery Lags
By Meghan Hall
Within the Bay Area’s hospitality industry, an interesting trend has arisen: While the sector struggles to recover amid limited demand from consumers, the market is still seeing...
Alila Ventana Big Sur Sells Again After 3 Months, Reaching $150MM
By Vladimir Bosanac
After just three months of ownership, Hyatt Hotels Corporation has flipped the 59-room Alila Ventana Big Sur for $150 million, or around $2.608 million per room. This price...
Irvine-Based Sunstone Hotel Investors to Pay $177.5MM for Four Seasons in Napa Valley
By Vladimir Bosanac
As the hotel industry continues its climb from the effects caused by the global COVID-19 pandemic, the California hotel sector is hitting record numbers. In one transaction,...
PropTech: Prescient Leverages Replicability of Hospitality and Multifamily Development to Create Efficiencies in Construction
By Meghan Hall
As construction costs continue to rise, new tech is evolving in an effort to streamline processes and budgets. At Prescient, a hospitality- and multifamily-focused company, the goal...
Proposed 214-Key Hotel in San Jose Makes Entitlements Progress
By Meghan Hall
The Alviso Hotel--a new project pitched by TNT Land Development Services and Terra Hospitality--is making progress. The project was originally proposed at the end of 2019, and...
Sacramento Hotel Purchased for $16MM as Part of Hotel-to-Multifamily Conversion
(EDITOR’S NOTE: According to public records, the asset was sold in August of 2021 for $16 million, or about $121,212 per room. The seller was Manas Hospitality, LLC, which...
Entity Associated with Larry Ellison Pays $345MM for Incline Village Hyatt Regency
By Vladimir Bosanac
The natural, year-round beauty of Lake Tahoe has for decades attracted visitors from around the world and in droves from Bay Area cities. Now, one of the...
