Sunstone Sells Fairmont for $125 Million
Hotel REIT Sunstone Hotel Investors Inc. sold its Fairmont Newport Beach for $125 million. The buyer of this massive deal was not disclosed but is believed to be a China-based entity that is affiliated with Infinity Realty Advisors in Los Angeles. The Business Journal was the first to report that the Fairmont was close to…
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Three Hotels to Open in Summer of 2018
The hospitality industry did not wait to take off in Orange County in this new year. Irvine-based Pacifica Hotels announced early this year that it had projected plan of operations toward an iconic hotel in Santa Monica; the Irvine Marriott introduced a redesign; developers of a hotel in San Juan Capistrano reported that it would…
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