A midcentury Burbank motel whose neon sign has flickered across movie screens for decades has changed hands as part of the city's biggest hospitality transaction in years.
The Safari Inn, a magnet for film buffs after it was featured in director Tony Scott’s 1993 film "True Romance," sold in a portfolio deal with the Coast Burbank Hotel across the street for $24.5 million, or about $245,000 per room.
Wilshire Royale Hotel Inc. sold the two properties and their combined 100 rooms, located in the shadow of Warner Bros. and Disney studios in Burbank, to AGA Essentials Group, according to CoStar data.
The 55-room Safari Inn traded for $12 million, or $218,182 per room, nearly twice the price that Wilshire Royale paid for the property in 2004. The 45-room Coast Burbank Hotel sold for $12.5 million, or $277,778 per room. Both properties are managed by hospitality firm Coast Hotels.
The deal comes as Los Angeles continues to rank among the country’s strongest hotel markets, even as growth cools from earlier highs. Occupancy and average daily rates remain elevated, though revenue per available room was essentially flat through November, according to CoStar research.
Buyer AGA Essentials is an Artesia, California-based family investment firm with 24 hotels across Southern California. In October, the group expanded its footprint with the $2.7 million purchase of the Regal Inn in Los Angeles.
Meanwhile, Burbank-based private investment firm Wilshire Royale Hotel, which acquired the Safari Inn for $6 million, provided $20 million in seller financing at a 6.5% interest rate as part of the transaction.
Cinematic landmark
Built in 1955 during the golden age of roadside motels, the Safari Inn embodies midcentury Americana with playful design details from rooms that feature leopard and zebra print to the towering neon spear-and-shield sign.
The property has been described as a "piece of the past and the pop-culture present" in Los Angeles magazine by LA author and cultural historian Alison Martino. It underwent a major renovation in the mid-2010s, when owners updated all 55 rooms, refreshed the pool and restored the neon sign.
The lobby feels like a time capsule, filled with eclectic décor, retro signage and a “Wall of Fame” showcasing posters from productions filmed on the site.
The inn’s retro look turned it into a Hollywood regular, with its "True Romance" role among the most prominent.
Ron Howard’s "Apollo 13" placed astronaut wives at the motel during the tense lunar mission, while Pixar paid homage in the animated feature "Incredibles 2," modeling the family’s temporary digs after the inn’s unmistakable silhouette.
On television, the Safari Inn has popped up in shows like "Monk," "CSI," "Desperate Housewives" and "Six Feet Under," often playing itself with its real sign and facade on camera.