The California coastal resorts market situated along the 840-mile California coastline includes a large number of the top trophy coastal hotels in the world. Most of the top luxury lodging brands have a presence in this unique destination marketplace. Some of the prominent brands include Montage, Fairmont, Rosewood, Four Seasons, Ritz-Carlton, InterContinental, and Loews, among others.
The California coast also includes some well known independents including The Lodge at Pebble Beach (Monterey peninsula), Hotel del Coronado (San Diego), and The Resort at Pelican Hill (Newport Beach), among so many others. And this doesn’t include some significant trophy hotels that are just a bit inland so we can’t include these in our coastal assets list.
We’re updating our 2018 report on the California coastal hotels and resorts market, an inventory of almost 70 quality properties situated along 840 miles of scenic beaches, dunes, and rugged coastal bluffs. A teaser is included below, of our updating in progress. Check back soon for a full summary of this singularly unique lodging market.
The Hyatt Regency Long Beach (California
The future of the vast California coastal lodging market is of great interest, for a great number of people. For this marketplace and asset class, we have cities awaiting their lodging taxes, employees looking to return to their jobs, food and expendables sourcing companies looking to fulfill supply-chain contracts, as well as the hotel companies and investors hoping for a chance at profitable operations.
The California coastal resorts market has been of keen interest to prominent investors. Family office and private equity groups with assets on the California coastline have included JMI Realty (John Moores), the Crown family (Chicago), MSD Capital, LP, and Woodridge Capital Partners, Edward Thomas Hospitality, KSL Capital Partners, Maritz Wolff & Co., Geola/Commune Hotels, Wanxiang America, and Walton Street Capital, as well as the investor group that acquired Pebble Beach Co.
The Real Estate Investment Trusts dedicated to lodging assets have also liked the California coast. Some of these players have included Chesapeake Lodging Trust, Sunstone Hotel Investors, Host Hotels & Resorts, LaSalle Hotels (5), Felcor Lodging Trust, and Xenia Hotels, among others.
We’ve enjoyed working with some of the owner/developers of these coastal trophies, as well with investors seeking to acquire these assets. Some of this work has included the Seaside Resort at Monterey Bay, Monterey Plaza in Monterey Bay, and several hotels in Marina del Rey including the Marriott Marina Beach.
Elsewhere in Southern California, we have worked with Mountain Funding with regard to La Entrada Santa Barbara, and several of the Southern California coastal resorts that have been available from time to time as initial developers yielded to new owners. We also had an opportunity to work with Fess Parker back in the day, on a couple of properties he had interest in developing.
One of our first client assignments was with the Port of Long Beach concerning the Queen Mary during the Wrather buy-out. Also in Long Beach we worked with Hyatt Development Corp. regarding the Hyatt Regency Long Beach assisting the initial development of the hotel with its UDAG grant-related project feasibility work. Some of the assignments were of course with predecessor companies and prior employers.