1831 S Harbor Blvd
Anaheim, CA 92802
Portofino Inn & Suites Anaheim · Hospitality Property For Sale · 164,597 SF

NAI Global, as exclusive advisor to the Seller, is pleased to offer for sale the leasehold interest in the 190-key PORTOFINO INN & SUITES (the “Hotel” or “Property”), located in in the heart of Anaheim, CA adjacent to Disneyland Resort and the recently renovated Anaheim Convention Center. This irreplaceable asset represents a unique opportunity to acquire an ideally located, independent hotel well below replacement cost and with significant proven value-add upside potential. The independent, limited-service Portofino Inn & Suites generated a recent peak revenue of approximately $9.2 million and an NOI of approximately $3.75 million in 2017. New ownership has the opportunity to continue operating the Hotel in its current condition and to capitalize on the Property’s stable in-place cash flow and strong lodging fundamentals, including an A+ location in a growing market and a high suite count totaling 59% of the room mix. Alternatively, Ownership has the opportunity to create enormous value through a renovation and repositioning of the asset, which was last fully renovated in 2000. The Disneyland submarket is the strongest performing submarket in all of Orange County, achieving an 82% occupancy, $183 ADR, and a $150 RevPAR in 2018. The Disneyland submarket, which experienced four consecutive years of RevPAR growth, is projected to continue this impressive growth trend over the next few years, resulting primarily from the opening of the long-awaited Star Wars: Galaxy's Edge theme park in June 2019, the largest expansion in the history of the theme park and the recent $190 million expansion of the adjacent Anaheim Convention Center. New ownership has the opportunity to implement a comprehensive renovation of the Hotel, which would enable the Portofino Inn & Suites to compete with a competitive set of upper midscale and upscale select-service properties that achieved a RevPAR premium of over $50 to the Property in 2018. This RevPAR premium highlights the upside potential of the Hotel following a repositioning and modernization, as well as the implementation of a new dedicated management company, aggressive asset management strategies, and a focused sales team.