Laguna Beach-based Casa Resorts Inc. said its La Casa Anaheim Resort LLC affiliate last week sold the 250-room Hotel Menage in Anaheim for $34.2 million to Taiwan-based buyer Kitty Lo.
The price works out to about $137,000 per room.
Casa Resorts partners Richard Ham, Takao Shinomiya and Christopher Keller bought Menage in 2006 for $22.5 million.
“Originally we thought it was going to be a business traveler hotel,” Ham said, “but families and Disneyland drive the [traffic].”
He said the hotel has had particular success attracting visitors from Australia and New Zealand.
“We marketed it well and have some very loyal customers,” he said, adding that the occupancy rate has been “in the high 70s to low 80s.”
La Casa del Camino in Laguna Beach is now Casa Resorts’ only hotel.
Ham said the company is looking to develop hotels in Texas and Arizona.
Arlington, Va.-based Interstate Hotels & Resorts runs Hotel Menage under its Rim Hospitality subsidiary in Newport Beach (see related Data Drill: Hotel Deals on page 30).
