New Report Says Hotel Sector Still Healthy Here

COSTA MESA, CA-Like the rest of California, the hotel sector of the market in Orange County weakened in 2000, according to a new hotel sales survey released by Atlas Hospitality Group.

The total number of sales transactions last year dipped 22.2% in Orange County to 28 sales from 36 sales in 1999. Likewise total rooms sold dropped almost in half from 3,514 rooms in 1999 to 1,976 rooms in 2000. Average sales price also declined sharply from $5.5 million and an average of 98 rooms per sale in 1999, to $2.8 million and an average of 71 rooms per sale in 2000.

However, the median sales price per room remained essentially constant from year to year, going from $41,643 per room in 1999, to $41,741 per room in 2000. The median sales price climbed slightly from $1.7 million in 1999 to $2.1 million in 2000.