LaSalle Acquires Resort in Del Mar, CA
Monday December 10th, 2012 - 12:17AM H
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DEL MAR, CA–LaSalle Hotel Properties has purchased the 120-room L'Auberge Del Mar here for $76.9 million.
LaSalle president & CEO Michael Barnello cited the luxury resort's multiple demand generators as the reason for the acquisition. The property is close to Torrey Pines Golf Course, Del Mar Beach and other leisure attractions. It's also close to the University of California San Diego and the University Towne Center corporate office park.
Bethesda, MD-based LaSalle, a lodging real estate investment trust, owns interests in 41 hotels of which 39 are owned 100%.
Tags: • Hospitality • Ownership •
For the past few years, the talk of The Lodging Conference in Phoenix had been focused on the economic recovery, solid industry projections and “cautious optimism.” With the word cautious no longer necessary, the economic outlook took a backseat this year to the seemingly unending parade of new lifestyle brands.