San Diego Hotel Trades for a Premium

San Diego hospitality has had a solid 2015, driving up interest in the city’s properties.

Apple Hospitality REIT recently completed the previously announced acquisition of the Courtyard San Diego Central for $56 million. The seller was the Huntington Hotel Group of Irving, Texas. As a result of the transaction, the buyer’s portfolio now totals 177 hotels and approximately 22,750 guestrooms, across 32 states.

Courtyard San Diego Central

Courtyard San Diego Central

Courtyard San Diego Central is located at 8651 Spectrum Center Boulevard, in the proximity of the Qualcomm Stadium, San Diego State University, the University of California San Diego, the San Diego Zoo, Marine Corps Air Station Miramar, SeaWorld San Diego,and the Gaslamp Quarter. According to Smith Travel Research, the San Diego market’s RevPAR went up by 10.7 percent during the first half of the year compared to that same interval in 2014.

The 245-key facility charged a per-room price of $229,000. The Courtyard San Diego Central offers guests an amenity package that includes a swimming pool, 4,000 square feet of meeting space, fitness facilities and complimentary high speed internet.

Image courtesy of Marriott