A Hyatt hotel near John Wayne Airport in Irvine sold for less than what it fetched eight years ago. Irvine-based S3 Hotel Group bought the 149-room Hyatt House Irvine/John Wayne Airport at 2320 Main Street for $38 million, or about $255,000 per key, the Orange County Business Journal reported. The seller, Denver-based Realberry Real Estate Services, paid $42.1 million for the extended-stay hotel shortly after it opened in 2018. The lower price isn’t a sign of distress, Atlas Hospitality Group President Alan Reay told the publication. The transaction reflects a broader re-pricing across the hotel sector, he said. Hotel values […]
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