| June 01, 2011

Hotel Online News for the Hospitality Executive By Lori Weisberg, The San Diego Union-Tribune June 3, 2011 The seven-year-old, 210-room Estancia La Jolla Hotel and Spa, located adjacent to UC San Diego, has been put up for sale. The owner, Los Angeles-based Lowe Enterprises, is not saying why it’s marketing the property nor did it divulge an asking price, but an online real estate publication estimates the luxury property could fetch more than $60 million. The hotel and conference center, which sits on a nine-acre site known at one time as the Black Family La Jolla Stables, was developed at a cost of $70 million. The Real Estate Alert newsletter estimates that the property could sell for $63 million. The 210-room Estancia Hotel in La Jolla opened in the summer of 2004. — Lowe Enterprises Located on North Torrey Pines Drive, the Spanish-style hotel includes an 8,000-square-foot spa, more than 21,000 square feet of meeting space and three restaurants. The resort is managed by Destination Hotels & Resorts, a subsidiary of Lowe Enterprises.For the rest of the story please visit: http://www.signonsandiego.com/news/2011/jun/02/luxury-la-jolla-hotel-up-for-sale/ The seven-year-old, 210-room Estancia La Jolla Hotel and Spa, located adjacent to UC San Diego, has been put up for sale. The owner, Los Angeles-based Lowe Enterprises, is not saying why it’s marketing the property nor did it divulge an asking price, but an online real estate publication estimates the luxury property could fetch more than $60 million. The hotel and conference center, which sits on a nine-acre site known at one time as the Black Family La Jolla Stables, was developed at a cost of $70 million. The Real Estate Alert newsletter estimates that the property could sell for $63 million. The 210-room Estancia Hotel in La Jolla opened in the summer of 2004. — Lowe Enterprises Contact: Lori Weisberg, Staff Writer San Diego Union-Tribune 350 Camino de la Reina San Diego, CA 92102 619-293-2251[email protected] Also See: Bankrupt Sè San Diego Hotel Along with The House of Blues Sells for $49 million to Kimpton Hotels, Far Short of Amount Owed to Lender and Creditors / Lori Weisberg / May 2011 Built in 1926, the Historic Boutique Hotel, Park Manor Suites in San Diego Sold for $11.5 million to Illinois Company Specializing in Time Shares / Lori Weisberg / May 2011 San Diego Hoteliers Asked to Pay $30 million a Year for Convention Center Expansion / Lori Weisberg and Roger Showley / May 2011 California Lawmakers to Address Hotel Sheets: Flat or fitted? Union-backed bill intended to cut down on worker injuries / Lori Weisberg / May 2011 Hotel Room Discounting Appears to be Coming to an End, Particularly for Upper End Hotels / Lori Weisberg / March 2011 Want to Run a Hotel? Take Calculus / Lori Weisberg / March 2011 Pacifica Host Hotels Acquires the 135-room Aloft Ontario-Rancho Cucamonga for Roughly $8 million, Property was the Debut of Aloft for Starwood / Lori Weisberg / February 2011 Manchester Grand Hyatt San Diego to be Sold to Host Hotels & Resorts Inc. for $570 million / February 2011 Following Two Years of Deep Discounting, U.S. Hotel Outlook Improving / Lori Weisberg / January 2011 San Diego’s Hotel Occupancies May be on the Rise but so are Foreclosures with a 433% Increase Over 2009 Bank Owned Properties / January 2011 Strategic Hotels and Resorts Granted Extension to Retire More than $600 million of Debt on San Diego’s Hotel del Coronado / January 2011 Bankrupt 5th Avenue Partners LLC, Owners of the Sè San Diego Hotel Along with Adjacent Building Housing the House of Blues, Could be Put up for Sale; Estimates Claim Could go for $50 million, Significantly Less than the $150 million Development Cost /January 2011 San Diego County Hotels Looking to a Healthier New Year as RevPAR Rose by 4.2% and Occupancy 5.4% in 2010, Gains Expected to Continue / January 2011 Three San Diego Hotel Properties that Were Returned to Lender by Sunstone Hotel Investors Now Up for Sale / December 2010 San Diego Hotel Performance May Mirror the Rest of Nation Says Starwood Hotels and Resorts CEO Frits van Paasschen / October 2010 San Diego Leads California with Hotels in Distress; Numbers Surge 160% Over Same Period a Year Ago / October 2010 Questions Surround Why the City of San Diego Has Permitted the Swanky SE San Diego Hotel to Continue Operating Without a Valid Certificate of Occupancy / September 2010 San Diego’s Manchester Grand Hyatt Deal with Sunstone Hotel Investors Goes Sour / September 2010 Skin Care Concierges Protect Hotel Sunbathers – The Newest in Amenities? / August 2010 Traveler Preferences are Changing: Upscale San Diego Hoteliers are Increasingly Becoming Pet Friendly Offering Pet Amenities From Surfing Lessons to Pet Psychic Sessions / August 2010 Former Owner of San Diego’s W Hotel, Sunstone Hotel Investors, Wants to Acquire Manchester Grand Hyatt / August 2010 San Diego’s Downtown W Hotel Now Owned by Lender / July 2010 During Downturn San Diego Hotel Owners Face a Delicate Balancing Act in Calculating When and How Much to Invest in Restorations / April 2010