The Hawthorn Suites Hotel, which will be located on the corner of Webster Street and Pacific Avenue in downtown Alameda, will feature 54 suits and 1,000-sf of retail space. The $4.75 million hotel will feature interior corridors, large rooms with various amenities, a spa and a gym.

While the developer knows that the hotel will enter a tough market, he remains undaunted, saying that he will be satisfied with 60 to 65% occupancy for the time being--until the economy improves. He says that the hotel's location and amenities, combined with the fact that it will be the newest hotel in both Alameda and Oakland for a long time, will make it popular even in the poor economic climate.

The hotel will be open by fall.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.