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Article: Survey: Hotel Sales Down In California Last Year.(Brief Article)(Statistical Data Included)
- Article from:
- San Diego Business Journal
- Article date:
- April 16, 2001
- Author:
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Copyright informationCOPYRIGHT 2001 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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A "tremendous" drop in the sale of larger hotels lowered the dollar volume in California's hotel transactions from $1.75 billion in 1999 to just over $1.09 billion last year, according to a Costa Mesa-based hospitality firm.
The company, Atlas Hospitality, recently released its year-end survey of the state's hotel sales.
Larger hotel transactions involve sales of at least $5 million.
The sales of such hotels was down 18.5 percent in Southern California, and 54 percent in the northern side of the state, according to Atlas.
The largest hotel transaction in San Diego County last year was Loews Coronado Bay Resort, which Loews Hotels ...
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