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San Jose hotel along transit line is bought amid feeble lodging market

Summary by Ground News
Caravelle Inn & Suites, a hotel at 1310 North First Street in San Jose, was purchased for $3.8 million. During the first six months of 2023, only eight hotels were bought in the Bay Area, including two in Santa Clara County. The number of hotels sold in California during the first half of 20 23 plunged by 52.9% compared with the first 6 months of 2022.

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San Jose hotel along transit line is bought amid feeble lodging market

A hotel along a light rail line in San Jose has landed local buyers, a reminder that some hotel sales are being completed in the face of a wobbly lodging market in the Bay Area.

·San Jose, United States
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The Mercury news broke the news in San Jose, United States on Tuesday, October 3, 2023.
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