4 Hotels Sold for Over $2 Million Each Last Year
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ANAHEIM — Four Orange County hotels were among the 32 lodging properties that sold last year for $2 million or more, according to a survey by a commercial real estate brokerage.
The largest local transaction was the $8-million sale of the Airporter Inn in Irvine. The 215-room hotel was sold in April, according to the survey by CB Commercial Real Estate in Anaheim.
The most expensive sale, on a price-per-room basis, was the Admiral’s Cove Motel in Anaheim. The 61-room motel sold for $3 million last October, which works out to $49,180 per room.
The Little Inn on the Bay in Newport Beach, a 53-room hotel that sold for $2.5 million last August, was a close second in the price-per-room category. That averaged out to $47,170 per room, CB said.
The second-highest overall transaction in the county was the Holiday Inn in Huntington Beach, which sold for $6.6 million. With 224 rooms, the cost per room was $29,464, according to CB.
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