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WEST HOLLYWOOD, CA-Pebblebrook Hotel Trust of Bethesda, MD has agreed to buy the 237-room Mondrian Hotel from New York City-based Morgans Hotel Group for $137 million, a price per room of $580,000 that approaches peak pricing of 2007-2008, according to one hotel industry consultant. Alan Reay, founder and president of Irvine, CA-based Atlas Hospitality Group, tells GlobeSt.com that the price of the pending sale “is probably close to what the hotel would have traded for back in the 2007/2008 peak.” Reay calls the deal “one more example of the prices REITs are now paying for well-located hotels.”

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