Hotel sales in California through the first six months of the year showed no signs of overcoming the strain of the nation’s economic pressures, according to a new industry report.
As of June 30, individual hotel sales volume in the state was down year over year by 7.4%, and the median price per room was down 2.5%, according to Atlas Hospitality Group, a Newport Beach-based real estate brokerage.
The firm recently released its midyear California hotel sales survey on the heels of its hotel development survey, which the Business Journal reported July 23. Atlas also produces year-end surveys in both hotel categories…