Pacifica Hotels Acquires Residence Inn by Marriott Anaheim Hills Yorba Linda

USA, Orange County, California. February 05, 2019

Pacifica Hotels, the largest owner and operator of independent hotels on the Pacific Coast is expanding further into the global brand select service category with the acquisition of the Residence Inn by Marriott Anaheim Hills Yorba Linda, a joint venture with Santa Barbara Capital. This latest acquisition joins Pacifica's other branded assets including Courtyard by Marriott King Kamehameha Kona Beach Hotel, Hilton Garden Inn Kauai Wailua Bay, Hilton Garden Inn at Port St. Lucie and Springhill Suites by Marriott Paso Robles Atascadero.

The property is situated along the southern edge of California Highway 91, approximately 20 miles from John Wayne International Airport, which welcomes over 10 million travelers annually. The hotel's location serves as a gateway between the Anaheim metro area to the west and the Inland Empire to the east. In the epicenter of Orange County's entertainment venues, Residence Inn by Marriott Anaheim Hills Yorba Linda offers ideal accommodations for guests enjoying iconic attractions and institutions, including Disneyland, Big League Dreams Sports Park, Knott's Berry Farm, and the Anaheim Convention Center.

Residence Inn by Marriott Anaheim Hills Yorba Linda features 128 rooms and recently underwent a $3.5 million renovation, which consisted of a redesign of the lobby, breakfast room and event spaces. The hotel also now offers new spaces and amenities, including hot breakfast served daily, evening socials, an outdoor terrace with a firepit and a built-in grill, sport court, swimming pool, fitness center, and business center.

“As Marriott is one of the world's most recognizable hotel brands, Residence Inn by Marriott Anaheim Hills Yorba Linda will share not only the name but the impeccable hospitality standards that Marriott holds,” said Matt Kou, Vice President of Investments & Acquisitions. “We are thrilled that this new property is in close proximity to Pacifica Hotels' headquarters in Aliso Viejo and are ready to bring Pacifica's and Marriott's brands together to create a superlative guest experience.”

Chris Marquis, Executive Vice President of Investments & Acquisitions adds, “Due to where we are in the current market cycle, we believe this asset fits well within our strategic plan to add select service hotels with a strong location and brand affiliation to the Pacifica portfolio.”

With the addition of Residence Inn by Marriott Anaheim Hills Yorba Linda, Pacifica Hotels now owns or manages 40 properties in valuable California urban and coastal locations. Having closed 2018 with a total revenue of $220 million, Pacifica is proving to be a key player in the West Coast hospitality industry with a growing collection of unique, boutique and experiential brands.

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Revenue Management: Focus On Profit

Revenue Management is still a relatively new profession within hotel operations and as such, it continues to evolve. One significant trend in this area is a shift away from using revenue as the foundation to generate key performance indicators (KPIs) and to instead place the emphasis on profit. Traditionally, revenue managers have relied on total revenue per available room (TrevPAR) and revenue per available room (RevPAR) as the basis of their KPIs. Now, some revenue managers are using gross operating profit per available room (GOPPAR) as their primary KPI. This puts profit at the center of revenue management strategy, and managers are increasingly searching for new ways to increase the profitability of their hotels. Return on Investment is the objective of any hotel investment, so it is only logical that profitability and ROI will be emphasized going forward. Another trend is an expanded focus on direct hotel bookings. Revenue managers know that one way to increase profitability is to steer guests away from online travel agencies (OTAs) and book directly with the hotel. This tactic also reinforces brand identity and loyalty, and encourages repeat business. In addition, it provides a valuable platform to market the hotel directly to the customer, and to upsell room upgrades or other services to them. Another trend for revenue managers involves automation in their software programs. Revenue management systems with automation are far more desirable than those without it. Automating data entry and logistics increases efficiency, allowing managers to spend more time on formulating strategy. As a bonus, an automated system helps with aggregating and interpreting data. The October issue of the Hotel Business Review will address these developments and document how some leading hotels are executing their revenue management strategies.