El Segundo Hotels Sold for $97 Million


A pair of hotels in El Segundo near Los Angeles International Airport sold last month to New York’s Blackstone Group for nearly $97 million, public records show.

The 350-room Fairfield Inn and Suites, operated by Marriott International Inc., sits alongside the 246-room Aloft hotel operated by Starwood Hotels & Resorts Worldwide Inc. They were sold in separate deals on June 16.

Fairfield went for $54.4 million, or $155,367 a room, while Aloft fetched $42.6 million, or $173,057 a room, according to public records.

Rubicon Co. had purchased the full site at 525 N. Sepulveda for $26.9 million in 2013 when it was the 640-room Hacienda Hotel, public records show. CoStar reported at that time that the building sat on 4.5 acres, including 3 acres of parking lots, and was the 10th largest L.A.-area hotel.

It was later converted into the Fairfield Inn and Aloft.

Neither Rubicon nor Blackstone immediately responded to requests for comment.

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