However, due to the small number of Napa County hotels that sold in the first half of 2018 and 2019, this statistic is misleading, said Alan Reay, president of Atlas Hospitality Group.
Only three hotels were sold in Napa County from January to June 2018: the Best Western Elm House Inn Napa, the Napa Inn on Warren Street, and the Beazley House in Napa.
Reay said that in the months and years to come, he expects “solid and continued profits” for Napa County hotels “as demand for rooms will always exceed supply, leading to higher prices. tariffs and occupancy rates “.
âThe demand from hotel buyers in Napa is very strong, but few owners are willing to sell because they are making record profits,â he said.
The regional report also noted that San Francisco County hotel transactions declined 13% in the first half of 2019. Total dollar volume fell 55%.
The county’s average price per room fell 10%, but the median price per room increased 35%.
At over $ 117.7 million, the biggest and most expensive sale was the 155-room Loews Regency San Francisco.
Alameda County recorded a hotel sale, down 67%. Total dollar volume increased 5 percent.
The average price per room increased by 71% and the median price per room by 55%.