Larkspur Acquires Two California Hotels

LARKSPUR, CA-Larkspur Hospitality has acquired the Holiday Inn Express in Mill Valley and the Best Western Truckee Tahoe Inn in Truckee, the fifth and sixth hotels it has acquired in the past five months. The locally based hotelier acquired both hotels from affiliates of Pacific Valley Investors of Belmont. Each of the hotels has 100 rooms.

Pacific Valley Investors president Wayne Levenfeld tells GlobeSt.com that his company and partners acquired both hotels in the 1990s from lenders. “[The sale] was an opportunity for partners [in the assets] who have gotten to a stage in their life where they’d rather cash out,” he says, declining to reveal the sale price.

The Best Western Truckee Tahoe Inn is located minutes from Lake Tahoe and within 15 miles of several different ski areas. The Holiday Inn Express Mill Valley-Sausalito is located in Marin County, just 10 minutes north of San Francisco. The hotel’s neighbor is Frantoio Ristorante, the only restaurant in the US with an in-house state-of-the-art olive oil production facility.