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County Bucks Hotel Sales Slump

ORANGE COUNTY, CA-The number of hotel sales doubles in the county year-over-year and dollar volume quadruples, bucking a statewide trend in which sales have dropped dramatically, according to a new study.

By Bob Howard | Updated on October 16, 2002

ORANGE COUNTY, CA-The number of hotel sales in Orange County doubled in the first half of this year and the dollar volume tripled, bucking a statewide trend in which the number of transactions and dollar volume both plummeted, according to a new report by Atlas Hospitality Group.

The Costa Mesa, Calif.-based hotel consulting and brokerage firm says the number of sales in the county grew to 16, compared with eight in the first six months of 2001, while the dollar volume grew from $16.8 million to nearly $79.5 million.

“Orange County was the one area of the state that completely bucked the trend,” with the state’s biggest increase in sales, President Alan X. Reay of Atlas tells GlobeSt.com. He says the total for Orange County actually could have been higher, but Atlas did not count the sale of a part interest in the new Laguna Beach resort being developed by Marriott because it was not a 100% sale of the property.

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