June 21, 2017 Comments Off on Ashford Extends Commitment at Hilton La Jolla Torrey Pines Views: 555 California News, San Diego

Ashford Extends Commitment at Hilton La Jolla Torrey Pines

Dallas-based Ashford Hospitality Prime, Inc. extended a ground lease at the Hilton La Jolla Torrey Pines hotel. The four-star, 394-room hotel sits on 11.38 acres, owned by the City of San Diego, adjacent to the legendary Torrey Pines Golf Course and the Torrey Pines State Preserve.

The hotel is owned in a joint venture between subsidiaries of Ashford Prime and Park Hotels & Resorts, Inc., with Ashford Prime holding a 75% interest in the JV. The lease, which currently expires in 2043, will be extended by 24 years and will now expire in 2067.

Ashford Prime’s Richard J. Stockton said, “In addition to adding significant term to the current lease, this agreement also provides a significant extension opportunity should we invest in the property at similar levels as we have historically.”

Read more at Ashford Prime

Connect With Ashford Prime’s Stockton


Subscribe to Connect Daily California

For comments, questions or concerns, please contact Dennis Kaiser

Share on FacebookTweet about this on TwitterShare on LinkedInEmail this to someone

Tags: ,

Comments are closed.