Pandemic’s Effect on California Development Could Increase Hotel Values

https://www.costar.com/article/486141428?utm_source=newsletter&utm_medium=email&utm_campaign=hospitality_prospect&utm_content=p2 California’s Project Homekey Boosted Transaction Volume By Bryan Wroten Hotel News Now Feb 17, 2021 | 8:52 AM The COVID-19 pandemic has had opposite effects on California hotel transactions and development in 2020, slightly increasing the number of deals while slowing the pace of new construction. The slower pace of development and delayed openings last year,...

S.F. hotels have 83 million new reasons to sell to Project Homekey

https://www.bizjournals.com/sanfrancisco/news/2021/02/17/newsom-homekey-peskin-homeless-hotels-sale.html By Alex Barreira  –  Staff Reporter, San Francisco Business Times Feb 17, 2021 Updated Feb 17, 2021, 8:13pm PST A recent shift in federal policy has freed up $83 million in local funding for a state program meant to convert hotels into permanent housing, sweetening the pot for struggling hotel owners to flip their properties at alluring above-market rates....

OC New Hotel Rooms Double in 2020

OC New Hotel Rooms Double in 2020 | Orange County Business Journal (ocbj.com) JW MARRIOTT, RADISSON BLU LARGEST IN STATE TO OPEN By Katie Murar Monday, February 8, 2021 Orange County hotel development bucked statewide trends last year, with 1,401 new hotel rooms opening in 2020, more than twice the amount seen in 2019. California, meanwhile,...