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2011 a Record Year for California Hotel Sales Totaling More Than $5.3 billion,
Eclipsing Previous Record Set in 2006


By Lori Weisberg, The San Diego Union-Tribune
March 7, 2012


The 1,190-room Hilton San Diego Bayfront hotel was among the priciest
lodging industry transactions in 2011. — UT file photo

Statewide, sales of hotel properties last year totaled more than $5.3 billion, eclipsing the previous record of $5.1 billion, set in 2006, according to a report released this week.

Among major metro areas in California, San Diego led the way, recording nearly $1.9 billion in sales, accounting for a little more than one-third of the state's total dollar volume in transactions, reported Orange County-based Atlas Hospitality Group, a brokerage that tracks hotel transactions in California.

In all, the number of San Diego hotel sales last year was 42, up from 15 in 2010. The value of those transactions surged 655 percent over 2010, when the value of hotel sales totaled $247 million.

"A 655 percent increase in dollar volume is phenomenal in terms of the market size," said Alan Reay, president of Atlas Hospitality. "That’s the highest dollar volume we’ve ever seen in San Diego County since we began tracking sales 16 years ago.

To read the rest of the story and see sales graphs please visit:
https://www.utsandiego.com/news/2012/mar/06/2011-a-record-year-for-calif-hotel-sales/


Contact:

Lori Weisberg, Staff Writer
San Diego Union-Tribune
350 Camino de la Reina
San Diego, CA  92102
619-293-2251
lori.weisberg@uniontrib.com


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