|
|
Article: 'Hot market' makes San Diego hotels highly valued. (Tourism & Hospitality).
- Article from:
- San Diego Business Journal
- Article date:
- March 31, 2003
- Author:
CopyrightCOPYRIGHT 2003 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)
|
One of the largest hotel brokers in Southern California said he has about 40 buyers seriously looking for hotels in San Diego.
"San Diego is the hottest hotel market in the country right now, particularly Downtown in terms of buyer investment demand," said Alan Reay, president of Atlas Hospitality Group of Costa Mesa.
The problem is, there are only about 25 properties on the market, none of which would be considered "trophies," he said. San Diego hotels, compared to other markets in the state, generate the second highest amount of revenue per available rooms. At year's end, the overall revenue per available rooms for the San Diego market was $75.79. That ...