Specifically, the number of sales in Los Angeles County dropped to 47 from 59, but the total dollar volume of sales increased to $335.1 million in comparison to $200.2 million in 2001, Atlas researchers say. President Alan X. Reay of Atlas says the 807-room Sheraton Gateway was the largest hotel sold in the state, going for $44.5 million. The 463-room Marriott Warner Center in Woodland Hills, which brought in $69.5 million, was the most expensive sale in the county.

The LA County figures reflected the trend throughout Southern California, where the number of sales dropped 9.7% to 158 in 2002, but the dollar volume rose 14.5% to $929.1 million. Prices were up all across California last year, according to the report, which says that median prices per room rose to $51,316 in Southern California from $42,500 the year before and climbed to $61,451 from $50,223 in Northern California.

The number of hotel sales in Northern California declined by 47% to 49, while dollar volume was down by 55% to $224.7 million. Compared to the boom year of 1998, Atlas says, sales volume in Northern California was down 84% in 2002.