PLEASANTON — An East Bay hotel has been bought by a Southern California group for well under $1 million in a deal that shows the Bay Area lodging market appears to be hitting rock bottom levels.
The 128-room Hyatt House Pleasanton hotel was purchased for $800,000 by a San Diego-based investment group, documents filed on June 16 with the Alameda County Recorder’s Office show.
That price works out to just $6,250 a room, an unheard-of low per-room value for the Bay Area hospitality sector…