Art Hotel in Laguna Beach sold for $7.7 million.
Irvine-based Atlas Hospitality Group brokers represented both buyer, Sutter County Hospitality Inc. in San Francisco, and seller, Emerald Bay Inn LLC in Laguna Beach.
Emerald Bay has owned the hotel since buying it for $2.7 million 15 years ago. Principals of the company previously owned 14 West Hotel, also in Laguna Beach, which they sold in 2012.
The purchase price works out to $276,000 per room for the 28-room property on Pacific Coast Highway, near Crescent Bay Beach.
