IRVINE, CA—The hotel sector made strides in the first half of the year, according to Atlas Hospitality Group, which recently completed its 2015 Mid-Year California Hotel Sales Survey.
State-wide highlights for the first six months of the year (over the same period in 2014) include:
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Record dollar volume of over $4.4 billion in sales, a 64% increase over last year.
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The median sales price-per-room increased 25%.
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Thirteen $100-million plus sales, versus four for the same period in 2014.
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Northern California increased 83% in total dollar volume, and Southern California was up 51%.
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The number of individual hotel sales actually declined 7%.
Highlights for some top markets:
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
