The Monterey portfolio, offered unencumbered by a management contract, represents a significant percentage of the total available oceanfront rooms in the Monterey hotel market, which according to Jones Lang LaSalle is supported primarily by leisure clientele from the San Francisco Bay area, the Los Angeles Basin, and the Northeastern United States.

"Given its favorable climate, popular recreational attractions, and proximity to prominent feeder markets, Monterey is currently one of the strongest resort hotel destinations in the nation," says LaSalle in announcing the disposition assignment, which also includes a Coastal Hotel Group hotel in Laguna Beach, CA and another in Savannah, GA. The Monterey portfolio includes:

Spindrift Inn --Opened in 1984, this 42-room European-style oceanfront hotel commands the highest rates in the famous Cannery Row district of Monterey.