The San Diego Union-Tribune
California Hotel Sales Hit a New Record
By Lori Weisberg
The hotel industry is indisputably back from the depths of the recession, with sales of California lodging properties during the first half of this year surpassing all previous records.
There were more than $4.4 billion in sales transactions in the first six months of 2015, a volume that eclipsed all previous midyear California totals since 1994 when the Orange County-based firm, Atlas Hospitality Group, first began tracking sales activity. In fact, the prices being paid for hotels has grown so much that the midyear total surpassed volumes recorded for all full year of sales, with the exception of 2006, Atlas found.
“We simply can’t maintain the pace seen over the last 12 to 18 months,” said Atlas Hospitality President Alan Reay…