August 19, 2015
Hotel sales in California hit new record highs, and San Diego County is enjoying the increase in transaction volume. Although the area trails the rest of the state, sales per room are just under $192,000, a 43-percent jump from a year ago.
San Diego’s biggest hotel sale of the year was the Grand Del Mar in Carmel Valley, which traded for just over $259 million. It was purchased by Fairmont Hotels from previous owner Doug Manchester.
According to Atlas Hospitality Group, San Diego County hotels traded at a total value of $696.5 million during the first six months of this year.