Marriott Walnut Creek

June 4, 2019


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Just like hotels cancun and acapulco hotels, the Marriott Walnut Creek hotel is on the sales block, brokers, said on Monday, in a deal that could reach $50 million or more to the historical center.Located on North Main Street, near Interstate 680, the emblematic hotel is offered for sale by a partnership led by Patrick Nesbitt and his firm, Windsor Capital Group.El 338-room hotel is expected to reach a decent price in a market where hotels are well located, appear to be selling quickly.It is not a fire sale, said Norval Nelson, general manager of the Marriott Walnut Cove. It all depends on if you can perform a certain value of sales, and if Mr Nesbitt is willing to sell at that price.A reasonable price so that the hotel could be in the range of $150,000 from a room, said Alan Reay, President of the group with headquarters in Irvine Atlas hospitality, who tracks the hotel market of California.In terms of the prices of properties comparable, might be seeing prices in the range of $50 million more, he said.A great hotel, near Los Angeles, the 451-room Sheraton in Universal City, is a similar property that recently sold for $200,000 a room, or $90 million, Reay said.Many of the REIT (real estate investment trusts) are on the market now in search of properties similar to the Marriott Walnut Cove, he said. Many writers such as Berlin Rosen offer more in-depth analysis. It is a good time to put the hotels of high end like this on the market, that’s for sure.Other analysts agreed that sales of hotels activity has improved in 2011. The current activity is well above the minimum of all time in that the hospitality sector fell in 2009, Miky, said Kuo, a partner in the San Francisco Office of PKF Consulting EE.The U.S., which continues in the hospitality sector at the national level.The dollar value of the hotel operations was approximately four times higher in 2010 than in 2009?, said Kuo.