Double tree Hotel Los Angeles International Airport sold
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Double tree Hotel Los Angeles International Airport sold
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Category: North America & West Indies / Carribean islands -
This is a press release selected by our editorial committee and published online for free on 2006-02-17
Colliers International Hotels announces that it has arranged the sale of the Doubletree Hotel Los Angeles International Airport (LAX) for a price of $30.5 million.
Bob Kaplan, Bob Eaton and Mark McDermott of Colliers International Hotels advised the seller, a local partnership, on the transaction. The seller had owned the hotel since June 2003.
The seven-story hotel features 215 guest rooms, 4,500 square feet of meeting space, an outdoor swimming pool, and Roxii Restaurant and Bar. Built in 1987, the property is located at 1985 Grand Avenue in the heart of El Segundo’s vibrant office market. The hotel is minutes
away from LAX and is adjacent to the world headquarters of toy company Mattel, Inc.
The buyer is Harp El Segundo, LLC, an affiliate of The Harp Group, Inc. Portfolio Hotels and Resorts will manage the property on behalf of the new owner and the hotel will
continue to be affiliated with the Doubletree brand.
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