Welcome Group Buys Hyatt Place El Segundo for $49M
JLL’s Hotels & Hospitality Group has closed the $49 million sale of the Hyatt Place Los Angeles / LAX / El Segundo, a 143-key hotel in El Segundo, CA. JLL represented the seller, Washington Holdings, and procured the buyer, local company Welcome Group, Inc.
Located at 750 N. Nash St., the Hyatt Place El Segundo offers traditional guest rooms and king suites, and also features The Placery bar and restaurant, The Market grab-and-go outlet, a fitness center and EV charging station. The pet-friendly hotel also includes a business center and over 1000 square feet of meeting or event space.
“The Los Angeles area benefits from strong corporate and leisure demand that continues to grow as the city diversifies from an entertainment mecca to an international hub for technology, media, finance, trade, manufacturing and more,” said JLL’s John Strauss who represented the seller along with the firm’s James Stockdale and Melvin Chu.
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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