Jones Lang LaSalle Hotels Markets For Sale Two Embassy Suites Properties
Exceptional California Locations
LOS ANGELES, November 1, 2005. On behalf of The Archon Group, L.P., Jones Lang LaSalle Hotels has been selected to exclusively market for sale the 335-room Embassy Suites Hotel La Jolla and the 293-room Embassy Suites Hotel Irvine, both in exceptional California locations.
"California hotels have continued to outperform hotels in other states in terms of RevPAR, and are anticipated to continue to lead the nation in lodging performance in the near to mid-term. As such, each property benefits from its strategic location in a prime Southern California market," said John Strauss, a senior vice president for Jones Lang LaSalle Hotels in Los Angeles. "Each of the properties has exhibited a strong performance over the past two years, and both hotels have commanded strong RevPAR yield penetration within their respective competitive sets - a testament to the properties' status as leaders in their markets."
"Both the Embassy Suites Hotel La Jolla and the Embassy Suites Hotel Irvine are ideally situated proximate to major metropolitan areas, each with a diverse array of high-end local corporate and group demand generators," said Arthur Buser, managing director for Jones Lang LaSalle Hotels. "Further, both hotels are close to multiple leisure demand generators, a strong foundation for consistent year-round demand base."
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