Airbnb Has Minimal Impact on Carlsbad/Vista Hotels

Apodaca: “From the large institutional player to the small investor, it’s all about understanding your demand generators over just strictly looking at a location.”

SAN DIEGO—With 80% occupancy rates and strong room rates, hotels are holding their own in markets underappreciated by investors who may be not be familiar with the area, CBRE SVP Rod Apodaca tells GlobeSt.com. The firm recently arranged the sale of the 150-room Hyatt Place hotel at 2645 S. Melrose Dr. in Vista, CA—which could be considered one of these underappreciated markets—for an undisclosed price.

Apodaca and Bob Kaplan exclusively represented the seller, an affiliate of Irvine, CA-based CoreCapital, which had purchased the hotel in 2014. Brighton Management, the self-represented buyer, will also manage the property, a four-story hotel that opened in 2012 and offers approximately 1,200 square feet of meeting space and provides food-and-beverage service through its 24/7 Guest Kitchen, Gallery Market and Bakery Café.