PLEASANTON — An East Bay hotel has been bought by a Southern California group for well under $1 million in a deal that shows the Bay Area lodging market appears to be hitting rock bottom levels.
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The 128-room Hyatt House Pleasanton hotel was purchased for $800,000 by a San Diego-based investment group, documents filed on June 16 with the Alameda County Recorder’s Office show.
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That price works out to just $6,250 a room, an unheard-of low per-room value for the Bay Area hospitality sector.
By comparison, in 2025, deals for Northern California hotels produced a median purchase price of $109,243 a room, Atlas Hospitality Group has reported. This places the Pleasanton hotel’s per-room price at 94% below the values in 2025.
Hyatt House Pleasanton was one of several hotels engulfed in a massive nationwide loan failure for lodging properties around the country.
Hawaii-based Shidler Group purchased the portfolio of hotels in 2017, including the 128-room Hyatt Hotel Pleasanton. The Shidler firm paid $39.6 million at that time for the hotel in Pleasanton.
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The various transactions mean the Hyatt House Pleasanton hotel is worth 98% less than its prior value at the time of the purchase in 2017.
The new owner is a San Diego-based real estate entity headed up by Shivam Patel and Rajesh Patel, state and county public documents show.
Separately, a Hyatt House Pleasant Hill hotel at 2611 Contra Costa Blvd. that was also part of the failed Shidler Group nationwide lodging portfolio was also bought for a relatively low price following its foreclosure.
A business entity that’s linked to San Diego-based Kalthia Group Hotels bought the 162-room Pleasant Hill hotel for $3.3 million, documents filed on June 3 with the Contra Costa County Recorder’s Office show.
The price for the Pleasant Hill hotel works out to about $20,350 a room, which is 81% below the typical per-room values for Northern California hotels in 2025, as reported by Atlas Hospitality.
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