Hotel LaSalle real estate investment trust Hotel Properties Inc. has paid $80.1 million for the Viceroy Santa Monica Hotel.
The price amounts to roughly $494,000 per room for seller Viceroy Hotel Group, which had owned the 162-room hotel on Santa Monica’s Ocean Avenue since 2001.
Bethesda, Md.-based LaSalle, which own 35 upscale hotels, said it will keep Viceroy as manager of the 44-year-old property. The deal was LaSalle’s seventh acquisition of an upscale, trophy hotel in roughly a year.
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