OC Hotels Attract Eager Buyers
The hotel market nationwide is as hot as it's been in years—with RevPAR and occupancies well past pre-recession levels. HFF managing director Scott Hall (snapped with his daughter Avery) tells us that's driving investor interest in strong markets such as Orange and Anaheim. Along with colleague Holden Lim, Scott recently repped an institutional investor in its sale of the 230-room Embassy Suites Anaheim-Orange for over $48M.
Scott says the sale benefited from the seller’s timely conversion to the Embassy Suites flag, a recent renovation, and continued local and regional market growth. Local fundamentals in SoCal's lodging market point to continued RevPAR gains, he adds, with the submarket dynamics of Anaheim and Orange key contributing factors to maximizing the price of this particular property.