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Hotel sales weaken in OC, Southland in first quarter

In a reflection of tight financial markets and a slowing economy, first-quarter hotel sales dropped throughout the Southern California region compared to the same period last year.

In Orange County, there was just one sale in the first quarter, compared with 12 last year. That one sale-- of the 46-room Anaheim Lodge in Anaheim-- carried a price tag of $1.5 million. Last year, the 12 first-quarter sales totaled $20.6 million and 627 rooms.

Though OC had the largest drop in number of sales in the Southland, every county but San Diego saw sales decline. Hotel deals dropped from 18 to 12 in Los Angeles; from eight to three in Riverside and from four to one in San Bernardino.

San Diego ...

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