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SoCal Hospitality Back Too

WASHINGTON DC 03.16.2017

CAPITAL MARKETS AND REAL ESTATE FINANCE

Investing in 2017, Hot Markets, and the Ever-Changing Capital Stack

Mark Hertz -- AIG Global Real Estate
Sujan Patel -- Colony NorthStar
Joe Carter -- Wells Fargo
SoCal Hospitality Back Too

Another fully revived sector in OC, and the rest of SoCal for that matter, is hospitality. All sectors of hotels are seeing a resurgence here, R.D. Olson Development CEO Bob Olson tells us, though the lower-end market is behind: “Five-star resorts are back in a big way, but they took the biggest hit in the downturn." In the coastal markets, he adds, we’re back to 2007 rate and occupancy, though not adjusted for inflation. (After pigging out on wings and Nachos during the Super Bowl, we also don't like talking about inflation.)

SoCal Hospitality Back Too

Irvine-based R.D. Olson Development recently broke ground on a five-story, 170-room SpringHill Suites by Marriott in Burbank, the firm’s second hotel in Burbank and its sixth over the last two years. The firm will retain ownership upon completion, with Marriott International providing management.