{"id":2869,"date":"2026-06-23T15:38:04","date_gmt":"2026-06-23T15:38:04","guid":{"rendered":"https:\/\/nextcitydigest.com\/?p=2869"},"modified":"2026-06-23T15:38:04","modified_gmt":"2026-06-23T15:38:04","slug":"east-bay-hotel-lands-buyer-at-rock-bottom-cost-in-frail-lodging-market","status":"publish","type":"post","link":"https:\/\/nextcitydigest.com\/?p=2869","title":{"rendered":"East Bay hotel lands buyer at rock-bottom cost in frail lodging market"},"content":{"rendered":"<div>\n<div>\n<p>PLEASANTON \u2014 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.<\/p>\n<p>Read more <a href=\"https:\/\/nextcitydigest.com\/?p=2867\">Supreme Court sides with Trump administration on immigration case dealing with green card holders<\/a><\/p>\n<p>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\u2019s Office show.<\/p>\n<p><strong>RELATED:\u00a0Central Valley investors buy East Bay hotel for well under prior value<\/strong><\/p>\n<p>That price works out to just $6,250 a room, an unheard-of low per-room value for the Bay Area hospitality sector.<\/p>\n<p>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\u2019s per-room price at 94% below the values in 2025.<\/p>\n<p>Hyatt House Pleasanton was one of several hotels engulfed in a massive nationwide loan failure for lodging properties around the country.<\/p>\n<p>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.<\/p>\n<p>Read more <a href=\"https:\/\/nextcitydigest.com\/?p=2865\">Vehicle passenger shot while driving through Oakland neighborhood<\/a><\/p>\n<p>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.<\/p>\n<div>\n<\/div>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>A business entity that\u2019s 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\u2019s Office show.<\/p>\n<p>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.<\/p>\n<p>Read more <a href=\"https:\/\/nextcitydigest.com\/?p=2864\">Shooter kills 2 at a Northern California library, suspect is custody<\/a><\/p>\n<div>\n<\/div>\n<div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":1,"featured_media":2868,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-2869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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