486-Room Full-Service Sheraton Park Anaheim Goes to Auction on RealINSIGHT Marketplace
Location: Adjacent to the Anaheim Convention Center, Disneyland® Resort, Disneyland California Adventure® Park, Downtown Disney, and the Anaheim Garden Walk.
Name: Sheraton Park Hotel at the Anaheim Resort
No. of Keys: 486
The Property: 486 Rooms, full-service hotel, five restaurants, four buildings, 13 floors. Built in 1966 and renovated in 2014.
This offering represents an exceptional opportunity for investors to acquire an institutional quality, full-service, Marriott branded hotel in a premium location with significant operational upside through renovation/brand conversion, leasing vacant space, re-configuring the hotel layout, and the potential to add additional keys.
What makes this opportunity great is its proximity to both Disney and the Convention Center. Steady demand generation from both leisure and corporate which is sought after by hotel investors.
Potential to expand and add additional keys, ideally positioned in Anaheim’s 500-Acre Resort District
Multiple additional income sources, Including Morton’s Steakhouse lease, over 19,000 sq. ft. of meeting space, unencumbered of management.
More info can be found at this website
Main Photo: The Sheraton Park at the Anaheim Resort
Tenure: Leasehold
Brand/Management: Brand: Marriott’s Sheraton; Management free; Could be upgraded to Renaissance.
Current Owner:
Guide Price: US$
Agent: Auction to take place August/September 2019: Tour the hotel – August 13th – 15th and 21st & 22nd; Indicative bids – August 28th; Investors will be notified if they are selected to participate in a closed Best & Final Auction, which will be held on September 18, 2019.
Auctioneers: Berkadia
Date Posted: August 2019
THPT Comment: Selling a mainstream, large hotel by auction is very rare in the UK, but not so in the USA…interesting process – see the link above.
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