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California  + Orange County  + Hospitality  | 
TMG Brokers $16M Sale of Avila Beach Hotel Property

TMG Brokers $16M Sale of Avila Beach Hotel Property

Costa Mesa, CA-based multifamily brokerage firm The Mogharebi Group (TMG) has arranged the sale of the Inn at Avila, a 32-room beachfront hotel property in the Central Coast city of Avila Beach, CA. A Los Angeles-based private investor purchased the hotel from an undisclosed seller for $16.25 million.

The Inn at Avila Beach is a unique, 53-year-old property that offers eight different room types ranging from a modern spa suite to the exclusive “owner’s suite.” Many of the rooms have been recently upgraded with hot tubs, fireplaces and canopy beds. In addition, the property features a rooftop coffee house and a grilling area.

“Boutique hotels typically do well along California’s Central Coast and the Inn at Avila is well ahead of the curve,” said TMG’s Ben Ketel who represented the seller. “The buyer was attracted to the hotel’s average daily rate, approximately $100 ahead of the competition, and its average annual occupancy is better as well.”


Inside The Story

The Mogharebi GroupInn at AvilaBen Ketel

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

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