Sitting Comfortably In Escondido

Grand Host Inc. (c/o Sabri Salim) purchased the 96-room hotel at 1290 W. Valley Parkway in Escondido, CA. The 42,375-square-foot hotel was built in 1981 and sits on 1.63 acres. It is currently a Comfort Inn. The property was purchased for approximately $6.35 million, more than $66,000 per room. The property reportedly sold at a 13 percent cap rate and an average yearly occupancy of 70 percent. Mark Maniar of Property Gallery in San Diego represented the buyer. Vache Darakdjian and Tim Edgar of Atlas Hospitality Group in Costa Mesa represented the seller, A&J Mutual LLC.