299-Room Marriott Goes to Market in Receivership

IRVINE, CA-Locally based Atlas Hospitality Group has landed an assignment to market the 299-room Marriott Ontario Airport Hotel in Ontario, CA, the second assignment the Irvine-based firm has landed recently to market distressed hotel assets. The Marriott is one of three hotels owned by the San Clemente-based Sunstone Hotel Investors REIT that have been handed over to receivers recently, according to an SEC filing by Sunstone.

Atlas president Alan X. Reay tells GlobeSt.com that the Marriott Ontariio, which was opened in 1986, has been renovated with $7.3 million in capital expenditures since 2003 and represents “an opportunity to acquire one of the few full-service hotels in the Ontario market,” one that has consistently been a top performer in both average daily rate and occupancy. The hotel is adjacent to the Ontario Convention Center and just north of Ontario International Airport.