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By Christine De La Cruz / Friday, December 20th, 2013 / Central Coast, Features, Top Stories, Tourism, Tri-County Economy, Wine & Viticulture / Comments Off on Lompoc bets on TBID: Hoteliers organize tourism marketing district
The Lompoc Tourism Improvement District was unanimously approved by the City Council on Dec. 5 and has overwhelming support from hotel owners in the city. The district will take effect Jan. 1, assessing a 2 percent tourism fee on hotel stays to generate funds to advertise the city to potential travelers.
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By Staff Report / Wednesday, December 18th, 2013 / Real Estate, South Coast, Top Stories, Tourism, Tri-County Economy / Comments Off on Updated: Parkers submit scaled-down plans for second waterfront hotel
The family of late actor and developer Fess Parker has submitted initial concept drawings to the Historic Landmarks Commission for the property on Cabrillo Boulevard. The Parkers told the Business Times that they are moving forward with plans for an upmarket, boutique inn, which would be located next to the 360-room Fess Parker DoubleTree Resort.
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By Stephen Nellis / Friday, November 1st, 2013 / Real Estate, South Coast, Top Stories, Tourism / Comments Off on Court launches bids for eight Nesbitt hotels
Montecito hotel magnate Pat Nesbitt could lose as many as half of his Embassy Suites properties under a recently approved bankruptcy reorganization plan.
Nesbitt and his company, Windsor Capital Group, parked a portfolio of eight Embassy Suites hotels in Chapter 11 bankruptcy, listing more than $100 million in debts, after being unable to work out a deal with his servicer, New York-based Torchlight Investors. Nesbitt’s Embassy Suites properties in Lompoc and San Luis Obispo were not involved in the case.
Court documents filed in U.S. Bankruptcy Court in Santa Barbara indicate the eight hotels in the bankruptcy are now slated to go to the auction block.
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By Marlize van Romburgh / Friday, July 26th, 2013 / Columns, Real Estate / Comments Off on Large hotel sales lead the way in South Coast CRE recovery
The commercial real estate recovery along the South Coast remained bumpy in the first half of the year, according to the latest report from Hayes Commercial Group.
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By Marlize van Romburgh / Friday, July 19th, 2013 / Columns, Real Estate, Tourism / Comments Off on Ayres Hotels’ first Paso Robles wine-country resort well underway
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By Dana Olsen / Friday, July 12th, 2013 / Real Estate, Top Stories, Tourism / Comments Off on Waterfront Hyatt in Santa Barbara sells for $61M
Two years after the historic Hotel Mar Monte was rebranded as the Hyatt Santa Barbara, the property has changed hands for more than $60 million. Chesapeake Lodging Trust, a Maryland-based hotel investment company, purchased the 171-room hotel from a Hyatt Hotel Corp. affiliate for $61 million, or $305,000 per room. In a July 1 announcement, Read More →
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By Dana Olsen / Friday, May 17th, 2013 / Top Stories / Comments Off on Tourism leaders play up Santa Barbara’s celebrity cred
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