Pacifica Hotel Company, which owns and manages 22 California hotels from San Diego to the San Francisco Bay Area, announced that it has sold the Quality Inn & Suites in Hermosa Beach, CA. Pacifica will continue to manage the 68-unit property on behalf of the new owners. The price of the transaction was not announced.
Pacifica sold the property, which they acquired as a part of a package in 2000, as part of the company’s ongoing strategic plan of maximizing investor returns. Proceeds from the sale will be used in part for Pacifica’s ongoing schedule of capital improvements
“We are pleased that our original investment in this property generated an attractive profit for our investors,” said Pacifica President Dale J. Marquis. “We look forward to providing the same excellence in management to the new owners and the same friendly service to guests of the Hermosa Beach Quality Inn & Suites.”