February 13, 2017
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OC hotels sold at a slightly lower rate for a markedly lower dollar volume last year—but results were affected by the lack of a trophy property sale in 2017, a survey by broker-consultant Atlas Hospitality Group in Irvine shows.
Sixteen Orange County hotels sold for more than $372 million in the first six months of the year, an average of $23.3 million and 201% higher by dollar volume year-over-year, according to hotel broker and consultant Atlas Hospitality Group in Irvine.
16 OC hotels sold for more $372 million in the first six months of the year—an average of $23.3 million and 201% higher by dollar volume than in the same period last year.
Hotel REIT Sunstone Hotel Investors Inc. in Aliso Viejo sold Fairmont Newport Beach for $125 million.