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At midyear, hotel sales were down 64 percent year-over-year in San Diego County, an Orange County hospitality real estate firm said in a statewide survey released yesterday. The number of hotels on the market increased 63.4 percent.
For the hotels that did sell, buyers paid a median price of 87 percent more per room, according to the Atlas Hospitality Group survey.
I wrote about a local troubled hotel, the W, last month.
Across the state, the survey found a new record low in terms of hotel sales, and a new record high in terms of hotels up for sale.
The LA Times real estate blog posted the numbers for Los Angeles County, if you’re interested.