In a show of strength for Orange County’s hospitality market, a 251-room hotel in Anaheim has recently traded for $62 million, or about $247,011 per room. According to public records, MHG Capital acquired the Doubletree Suites by Hilton Hotel Anaheim Resort-Convention Center in a deal that closed on Jan 20, but only recently recorded. The seller in the transaction was Anaheim-based O’Connell Hotel Group.
The property is located at 2085 S. Harbor Blvd. and offers a number of amenities, including a concierge, pool, fitness center, business center, meeting rooms and more.
The hotel is also closely located to numerous off-site amenities and attractions, including Disneyland, which is less than one mile away. The property is also just south of the Anaheim Convention Center and within close proximity to Interstate 5.
Based in Newport Beach, MHG Capital focuses on the acquisition and improvement of hotels in prime urban markets. Since its founding, the company has transacted more than $500 million in select and full-service hotels totaling more than 2,000 rooms, according to its website. The company’s portfolio currently consists of seven hotels, including the group’s Four Points Anaheim, a 246-room hotel located nearby the recently acquired property at 1221 S. Harbor Blvd.
Overall, Orange County has seen a number of hotel deals in recent quarters.
In November 2022, for instance, the 259-room Montage Laguna Beach hotel traded for $641 million, or about $2.47 million per room. The property was acquired by Tilman Fertitta, an entrepreneur and owner of Landry’s and the Houston Rockets. The seller in the transaction was Chinese insurance company Dajia Insurance Group, according to The Registry’s previous reporting.
Prior to that in August, The Irvine Company sold its 541-room Hotel Irvine at 17900 Jamboree Road for $135 million, or $250,000 per room. The property was acquired by Hyatt Hotels Corporation.
