Atlas Hospitality Group Arranges Sale of Lone Oak Lodge Monterey
June 27, 2017 10:04am
IRVINE, California–June 27, 2017–Atlas Hospitality Group, the market leader in California hotel sales, arranged the sale of the 46-room Lone Oak Lodge in Monterey, California.
The Lone Oak Lodge sits close to Pacific Coast Highway on the high barriers-to-entry Monterey Peninsula, about two hours south of San Francisco. The boutique property benefits from its proximity to the Monterey Bay Aquarium, Cannery Row, Fisherman’s Wharf and Pebble Beach.
Atlas Hospitality Group Associate Joshua Miehl and Executive Vice President Oliver Shah represented the seller. The buyer was a local private investor.
The Lone Oak Lodge sold for one of the highest prices-per-room on record for Monterey. The total escrow time was only 45 days.
Reflecting on the transaction, Miehl said, “The buyer had a unique opportunity to acquire a boutique hotel in the heart of Monterey. The hotel had never been on the market before; one family had owned it since 1958. Monterey has a moratorium on new hotel construction, making the acquisition and long-term valuation even more appealing.”
Tags: atlas hospitality group,
lone oak lodge
At Atlas Hospitality Group, we succeed above and beyond other real estate firms by specializing in the complexities of marketing hotels. Unlike other types of real estate, hospitality properties are much more than just land and buildings. As operating businesses, they require an understanding of their management. By the same token, they require knowledge of the market along with the tools and contacts to expose a property to the marketplace. At Atlas Hospitality Group, we understand the business and the underlying real estate and are experts at marketing both.
Contact: Joshua Miehl
Hospitality Financial Leadership: Roger Penske & The Hotel PMS
Hospitality Financial Leadership: The 5 Hidden Costs of Being Branded
Knighthead Funding, LLC Originates $36 Million Loan to Refinance Newly Constructed Luxury Hotel at Hartsfield-Jackson Airport in Atlanta
Hospitality Financial Leadership: Bring Multi-Tasking to an End for Hotel Leaders
Hospitality Financial Leadership: Understanding the Importance and Use of The Reserve for Capital Replacement
Hospitality Financial Leadership: The Matching Principle
Hospitality Financial Leadership: The Top 10 Interview Questions About The Hotel's Finances for a General Manager and the Best Answers
Hospitality Financial Leadership: OTA’s and How Hotels Can Best Use Them
Thorofare Capital Provides $17 Million Loan to Refinance Boutique Hotel in Downtown Miami
Hospitality Financial Leadership: Going Down the Road – Part 1
Hospitality Financial Leadership: Expectations vs. Agreements
The History of Financing Boutique Hotels
Hospitality Financial Leadership: What’s Missing With Labor Planning Tools?
Knighthead Funding Originates $8.5 Million Loan to Complete Construction of Holiday Inn & Suites Near Savannah, GA
Hospitality Financial Leadership: Trading Places
Spirides Arranges $7.8 Million Hotel Construction Loan for New Holiday Inn Express in Rock Hill, SC
The Future of Private Equity and Private Markets
Hospitality Financial Leadership: Your Department Managers Really Want to Do Their Monthly Financial Forecasts
Hospitality Financial Leadership: Understanding Liabilities
Thorofare Capital Funds $16 Million Bridge Loan to Refinance Sheraton Silver Spring Hotel in Silver Spring, MD
Please login or register to post a comment.