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Irvine Hospitality Firm Buys Hyatt House Near JWA for $38M
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Orange County Business Journal
S3 Hotel Group Managing Partner Narendra Patel told the Business Journal that his group is bullish on the growth trajectory of John Wayne Airport and Newport Beach.
The largest is the 172-room Home2 Suites on Von Karman in Irvine, which S3 Hotel Group is developing.
Reay said S3 Hotel Group made a smart move buying the Hyatt, since they are also building a Home2 Suites next door.
The company, founded in 2004, owns 11 hotel properties in Southern California, nine of which are in Orange County.
Reay said the Hyatt House sale shows a bigger trend than just the price of one property.