Ocean Park Hotels Markets Four Properties

LOS ANGELES-Ocean Park Hotels Inc. of Valencia, CA has named Jones Lang LaSalle Hotels to market three Southern California properties and one in Monterey, CA. The four properties, which represent a total of 532 keys in three California hotel markets, are all fee-simple, being offered unencumbered by management, and affiliated with either the Marriott or Hilton family of brands.

The properties are the Hilton Garden Inn Monterey, the Courtyard by Marriott Thousand Oaks, the TownePlace Suites by Marriott Thousand Oaks and the Hampton Inn and Suites Camarillo. According to Jason Jones, a senior vice president for Jones Lang LaSalle Hotels, the three Southern California properties are all newly built and the Monterey property has been renovated extensively.

The properties will be marketed as three packages and bids will be taken on that basis by early June, says John Strauss, an executive vice president for Jones Lang LaSalle Hotels. Strauss says that the barriers to entry for new supply along the Central Coast of California are among the highest in the country.