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9/28/22
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Hyatt Place Los Angeles / LAX / El Segundo, a 143-key, select-service hotel in El Segundo, traded in a recent transaction with a $49 mil ($342.7k/room) price tag. The buyer was El Segundo-based Welcome Group Inc.
Located at 750 N Nash St, the Hyatt Place El Segundo is ideally positioned in the coastal city of El Segundo, which features numerous corporate and leisure demand drivers. The city is home to prominent defense and aerospace firms as well as three sports teams: the NBA’s Los Angeles Lakers, the NHL’s Los Angeles Kings and the NFL’s Los Angeles Chargers. The Chargers are in the process of building a new state-of-the-art practice facility that will further bolster demand in the area. In addition, the Hyatt Place El Segundo is close to Los Angeles International Airport and accessible via the 405 and 105 Freeways.
The Hyatt Place El Segundo, which was recently renovated in 2020, offers traditional guest rooms and king suites that average 369 sf each. Guests have access to on-site amenities, including The Placery bar and restaurant, The Market grab-and-go outlet, a fitness center, outdoor pool and electrical vehicle charging station. In addition, the pet-friendly hotel features a business center and 1.1k sf of meeting or event space.
John Strauss, James Stockdale and Melvin Chu with JLL Hotels & Hospitality represented the seller, Washington Holdings. The hotel was sold unencumbered by management.
“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,” Strauss said. “El Segundo in particular has experienced substantial growth with major firms located near the hotel including AT&T, Mattel, Boeing, Raytheon, and Spectrum.”
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