Hotel del Coronado | Favorite Architecture

Share Top Five December 5, 2018

Hotel del Coronado is a historic beachfront hotel in the city of Coronado, just across the San Diego Bay from San Diego, California. It is one of the few surviving examples of an American architectural genre: the wooden Victorian beach resort. It is the second largest wooden structure in the United States and was designated a National Historic Landmark in 1977 and a California Historical Landmark in 1970,More info:wiki

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#10 Press Room,More info:hoteldel

#9 SD County has priciest hotel sale in state,More info:sandiegouniontribune

Plenty of hotels changed hands in San Diego County during the first half of this year, but nowhere in Southern California was there any area that matched the surge in sales recorded in the red-hot San Francisco market.

San Diego County, however, can lay claim to the priciest transaction in the state, with the Hotel del Coronado’s change in ownership in May. That’s according to a half-year sales report released this week by Orange County-based Atlas Hospitality Group, which tracks lodging industry transactions throughout California.

Chicago-based Strategic Hotels & Resorts, formerly a minority owner, acquired a majority stake in the iconic Coronado hotel in a transaction valued at more than $500 million.

In all, there were 19 hotels in the county that changed hands through June of this year, compared to 21 during the same time period a year earlier. The value of those sales totaled $701.1 million, a 6 percent drop from the $744.2 in sales during the first half of 2013, Atlas reported.

The report, however omitted the value of the largest hotel sale in the county — the 956-room Town & Country Resort & Convention Center — because the value of the transaction was not available.

#8 Blackstone Group Refinances Hotel Del Coronado,More info:sdbj

Unable to sell off Hotel del Coronado last year, owner Blackstone Group has instead decided to refinance the iconic property.

According to the industry news publication National Mortgage News, New York-based Blackstone recently obtained $712 million in new debt by tapping the commercial mortgage bond market for a refinancing of the historic 757-room hotel.

The news publication cited data from credit research firm DBRS, indicating that Blackstone also contributed $586,981 in cash equity to cover closing costs. Blackstone will use proceeds from four new commercial mortgage bond-based loans to pay off $703 million in prior debt that it took out on the Coronado property.

Among the world’s largest private equity firms, Blackstone Group acquired a 60 percent interest in Hotel del Coronado in 2011, then in late 2015 acquired the full interest in a deal reported at approximately $1 billion.

Blackstone Group had planned last year to sell the 129-year-old hotel as part of a larger $6.5 billion nationwide portfolio deal to China’s Anbang Insurance Group Inc. But the transfer was apparently called off due to federal government concerns about the hotel’s proximity to local U.S. Navy bases.

In July, Hotel del Coronado became a Curio Collection by Hilton property, following a management switch to Hilton Hotels & Resorts. The original name remains intact at the hotel, located at 1500 Orange Ave.

#7 New Year’s Day Brunch,More info:hoteldel

#6 Hotel del Coronado in San Diego,More info:johnnyjet

#5 Chinese insurer acquiring Santa Monica resort, Hotel del Coronado in $6.5-billion portfolio deal,More info:latimes

The Loews Santa Monica Beach and the historic Hotel del Coronado near San Diego are being acquired by a Chinese insurance company as part of a $6.5-billion deal.

Blackstone Group, a New York private equity firm, has agreed to sell its Strategic Hotels & Resorts Inc., which owns 16 luxury properties, to Anbang Insurance Group, a person familiar with the transaction said Saturday.