CBRE Hotels is soliciting offers to acquire the fee-simple interest in the Comfort Inn (To Be) Encinitas Near Legoland, California. Conveniently located off Interstate 5 in the North San Diego County, the 102-room hotel provides access to an array of San Diego attractions, including the San Diego Safari Park, Sea World, San Diego Zoo, Coronado, Balboa Park and the USS Midway Museum. This prime location allows the hotel to receive business from a diverse population of both transient and leisure segments.
Investment Highlights
- Comfort Inn (To Be)/Encinitas, California – Rare opportunity to acquire the Comfort Inn (To Be) in Encinitas, California. The hotel features 102 well-appointed and exterior-corridor guestrooms, with the 2nd and 3rd-floor West facing rooms have balconies that overlook the ocean. The City of Encinitas attracts visitors from all over the world, thanks to its pristine beaches and rolling hills, famous Botanic Garden and vibrant downtown business district.
- Significantly Underperforming the Comp Set – The hotel is significantly underperforming its comp set, with a 45.1 RevPAR index as of May 2023 TTM. This project presents a unique opportunity for a more hands-on operator to drive RevPAR increases through implementing more focused revenue management.
- Tremendous Upside - As a major destination market for domestic travel and booming life science industry, San Diego hotel market has seen remarkable rebound from the Covid Pandemic. As business and leisure travel continues to recover, the hotel is well-positioned to experience strong revenue growth upon the completion of the conversion PIP.
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