Hilton Opens in Palo Alto
Say hi to the new Hilton Garden Inn Palo Alto, the brand's fifth property in Santa Clara County. The 174-room hotel at 4216 El Camino Real is much needed in Silicon Valley and sits minutes from Stanford University, Stanford University Medical Center, Cantor Arts Center and Palo Alto Baylands Nature Preserve. The hotel is owned by OTO Development and managed by Palmetto Hospitality of Palo Alto.
Meanwhile, Philly-based Arden Group just acquired the Hilton Santa Cruz Scotts Valley. Also at 174 rooms, the hotel includes nearly 8k SF of meeting space (indoor and outdoor). Arden will be investing an additional $7M in the hotel to renovate the guest rooms, public space and upgrade the restaurant. The sale was facilitated by JLL. The property sits five miles north of Santa Cruz and 20 miles south of Silicon Valley. Expect lots of beach-bound tourists staying inside (Santa Cruz's boardwalk boasts 3 million visitors annually).