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Investor Dynamic City Capital ponied up $303M to purchase two Marriott hotels close to Disneyland.
The price tag works out to more than $647K per room, according to the Orange County Business Journal, which first reported the news. That is a significant premium to the roughly $350K per room average sale price for Orange County hotels in 2024, according to a midyear report from Marcus & Millichap.
The two hotels were the SpringHill Suites at 1801 S. Harbor Blvd. and the Residence Inn at 640 W. Katella Ave.
The nine-floor Residence Inn opened in August 2016 and has 294 rooms. SpringHill Suites opened in October 2014 and holds 174 rooms across five floors.
Dynamic City Capital is based in Utah and invests in hospitality, multifamily, self-storage and retail in the western U.S, the OCBJ reported. Its portfolio also includes the Anaheim Portofino Inn & Suites, which is next door to the SpringHill Suites.
The seller of the hotels was T2 Hospitality, formerly known as Tarsadia Hotels.
In April, Disney won approvals from the city of Anaheim for a multibillion-dollar expansion, including new rides, restaurants and hotel rooms, the Los Angeles Times reported at the time.
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