Tarsadia Hotels

Hotelier Tushar Patel purchased the Anaheim Marriott Hotel for about $80 million Thursday, solidifying his place as a major player in the city's lodging business. The deal for the 1,033-room convention-business hotel is the biggest yet for Patel's Tarsadia Hotels, a family-owned, Costa Mesa-based concern that has a 25-year history in the Anaheim area.

The Wyndham Checkers, a 188-room boutique hotel in downtown Los Angeles, was sold for an undisclosed price to an affiliate of Costa Mesa-based Tarsadia Hotels, according to broker Grubb & Ellis. The 73-year-old hotel on Grand Avenue will remain part of the Wyndham chain, but it will be managed by the new owners. Checkers was sold by Dallas-based Grand Avenue Partners, which purchased the property in 1994 from Sumitomo Bank.

Construction is expected to begin by April on a 30,000-square-foot, $35-million conference center in Alicante Plaza at Harbor Boulevard and Chapman Avenue. Tarsadia Hotels also plans to convert a 10-story office building into a 279-room hotel. The city's redevelopment agency will use property and hotel tax money to reimburse the developer $33 million over a 17-year period.

Construction is expected to begin by April on a 30,000-square-foot, $35-million conference center in Alicante Plaza at Harbor Boulevard and Chapman Avenue. Tarsadia Hotels also plans to convert a 10-story office building into a 279-room hotel. The city's redevelopment agency will use property and hotel tax money to reimburse the developer $33 million over a 17-year period.

The Wyndham Checkers, a 188-room boutique hotel in downtown Los Angeles, was sold for an undisclosed price to an affiliate of Costa Mesa-based Tarsadia Hotels, according to broker Grubb & Ellis. The 73-year-old hotel on Grand Avenue will remain part of the Wyndham chain, but it will be managed by the new owners. Checkers was sold by Dallas-based Grand Avenue Partners, which purchased the property in 1994 from Sumitomo Bank.

Hotelier Tushar Patel has expanded his California holdings once again--and now he's setting his sights on Las Vegas. The Costa Mesa businessman says he expects next month to complete the purchase of the Bourbon Street Hotel & Casino, a 200-room hotel and gaming facility a block from the storied Vegas Strip. It's Patel's first venture outside the familiar Southern California market, where he now owns 14 hotels in partnership with family members.

Plaza Alicante, the Garden Grove hotel and office complex developed by the late "credit dentist" Dr. Robert F. Beauchamp, is getting a new owner and a face lift. Newport Beach-based Gatway Properties is selling the project to an affiliate of Tarsadia Hotels, the companies said Friday. Costa Mesa-based Tarsadia said it to plans to spend $25 million to convert the virtually empty 200,000-square-foot office building into a 279-room all-suites hotel.

New Anaheim Marriott owner Tarsadia Hotels said Thursday that it will spend $15 million over the next two years to renovate the 1,033-room convention hotel. Costa Mesa-based Tarsadia now has 2,200 rooms in the Anaheim Convention Center/Disneyland area and more than 1,000 under development, plus additional holdings elsewhere in the Orange County, San Diego, Los Angeles and San Francisco areas. Marriott International will continue to manage the Anaheim hotel, which Tarsadia bought for $75.

Orange County hotelier Tushar Patel, who lost a high-profile bidding war with Walt Disney Co. for Anaheim's Grand Hotel in 1996, is close to purchasing the far bigger Anaheim Marriott hotel, sources familiar with the transaction said Wednesday.

* Bob Kaplan has joined Tarsadia Hotels in Costa Mesa as vice president, real estate. Kaplan was formerly vice president of the hospitality properties group of John Burnham & Co. in San Diego. * Trish Bartel has been named director of business development for Irvine Medical Center. She was formerly director of business development for Chapman Medical Center in Orange. * Jack Mervis has been appointed chief operating officer of Raygal Inc.

New Anaheim Marriott owner Tarsadia Hotels said Thursday that it will spend $15 million over the next two years to renovate the 1,033-room convention hotel. Costa Mesa-based Tarsadia now has 2,200 rooms in the Anaheim Convention Center/Disneyland area and more than 1,000 under development, plus additional holdings elsewhere in the Orange County, San Diego, Los Angeles and San Francisco areas. Marriott International will continue to manage the Anaheim hotel, which Tarsadia bought for $75.

Hotelier Tushar Patel purchased the Anaheim Marriott Hotel for about $80 million Thursday, solidifying his place as a major player in the city's lodging business. The deal for the 1,033-room convention-business hotel is the biggest yet for Patel's Tarsadia Hotels, a family-owned, Costa Mesa-based concern that has a 25-year history in the Anaheim area.

Orange County hotelier Tushar Patel, who lost a high-profile bidding war with Walt Disney Co. for Anaheim's Grand Hotel in 1996, is close to purchasing the far bigger Anaheim Marriott hotel, sources familiar with the transaction said Wednesday.

Plaza Alicante, the Garden Grove hotel and office complex developed by the late "credit dentist" Dr. Robert F. Beauchamp, is getting a new owner and a face lift. Newport Beach-based Gatway Properties is selling the project to an affiliate of Tarsadia Hotels, the companies said Friday. Costa Mesa-based Tarsadia said it to plans to spend $25 million to convert the virtually empty 200,000-square-foot office building into a 279-room all-suites hotel.

* Bob Kaplan has joined Tarsadia Hotels in Costa Mesa as vice president, real estate. Kaplan was formerly vice president of the hospitality properties group of John Burnham & Co. in San Diego. * Trish Bartel has been named director of business development for Irvine Medical Center. She was formerly director of business development for Chapman Medical Center in Orange. * Jack Mervis has been appointed chief operating officer of Raygal Inc.

Hotelier Tushar Patel has expanded his California holdings once again--and now he's setting his sights on Las Vegas. The Costa Mesa businessman says he expects next month to complete the purchase of the Bourbon Street Hotel & Casino, a 200-room hotel and gaming facility a block from the storied Vegas Strip. It's Patel's first venture outside the familiar Southern California market, where he now owns 14 hotels in partnership with family members.

Fueled by Disneyland-area expansions, hotel sales in Orange County were more robust last year than elsewhere in the state, according to a study released Monday by a Costa Mesa brokerage. The number of hotels sold in the county rose from 26 to 36, and the average price-per-room price rose 14% to $49,241--the biggest price increase of any county, according to the Atlas Hospitality Group.

Two large Los Angeles County hotel properties have traded hands and a third has hit the market as the region experiences a spate of hotel sales. Vivendi Universal's entertainment division has sold the Sheraton Universal Hotel and the ground under the nearby Hilton Universal City & Tower to separate buyers. A few miles away in Hollywood, the developer of the Hollywood & Highland retail and theater complex has put the adjoining Hollywood Renaissance Hotel up for sale.