A 121-room hotel that offered discounted rates for victims of January’s fires in Pacific Palisades and Altadena was sold for nearly $17 million, or $140,083 per room, according to CoStar data.
Laguna Hills Lodge, the independently branded economy class hotel that was built in 1968, was bought by Lake Forest-based Haley Hospitality Enterprises LLC.
Oliver Shah and Justin Myers of Newport Beach-based Atlas Hospitality Group represented the buyers.
The hotel was sold by LHMLP, the property’s original ownership group.
The transaction was completed on March 11, according to CoStar data.
Laguna Hills Lodge is a three-floor, 87,500-square-foot building on 2.7 acres at 23932 Paseo de Valencia, located just off Interstate 5 at El Toro Road.
Hotel sales for the central and south Orange County markets have cooled, according to a CoStar study.
The stretch of Orange County between Newport Beach and Dana Point reported $125 million in sales volume year, compared to a three-year average of $340 million, according to CoStar.
