Hotel Outlook: Grim

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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.

San Diego County ranked second in the state for the number of troubled hotels, with 22. That’s about 10 percent of the 250 troubled hotels — either in default or lender-owned — across the state.

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.

— KELLY BENNETT