Investment sales in hotels plunged by more than 56% in California in 2023 as investors kept their powder dry waiting for better market conditions—the steepest cliff-dive for the hospitality sector in the Golden State since the global financial crisis.

Hotel transactions in California totaled $3.76B last year, less than half of the $8.6B in hotel sales volume in 2022. The 2023 tally is the lowest since 2009, when sales of hotels in the Golden State dropped by 75%.


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Jack Rogers

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