Introduction
San Diego-based Hardage Hospitality has made headlines once again, securing $88.5 million in refinancing for its dual-branded Marriott property in Marina del Rey. This 288-room hotel, located at 4360 Via Marina, reflects the company’s commitment to premium waterfront hospitality experiences. Let’s explore the details of this transaction, the property’s unique features, and the broader impact on the hospitality landscape.
Refinancing for Growth
Hardage Hospitality locked in a floating-rate loan facilitated by Beach Point Capital Management, a Santa Monica-based lender. CBRE, a global leader in commercial real estate services, represented Hardage in this significant deal. While the exact terms remain undisclosed, the refinance replaces a maturing mortgage, ensuring the continued success and operation of the Courtyard & Residence Inn Marina del Rey.
About the Property
Completed in 2021, the dual-branded hotel features two distinct experiences under the Marriott umbrella:
- Courtyard by Marriott: Aimed at business travelers and short-term guests seeking convenience and modern amenities.
- Residence Inn by Marriott: Designed for extended stays, offering suite-style accommodations with kitchenettes for a homier feel.
Guests can enjoy luxurious amenities, including:
- Brizo Bar and Restaurant: A waterfront dining experience with a focus on fresh, local flavors.
- Sam’s Coffee Call: A cozy spot for morning brews and quick bites.
- Recreational Facilities: A terrace pool deck and a state-of-the-art fitness center.
Room rates reflect the hotel’s premium location and features, starting at $284 per night for Residence Inn accommodations and $264 for Courtyard rooms.
A Track Record of Excellence
Hardage Hospitality, led by Samuel Hardage, has a proven track record in the hospitality industry. The company has developed, managed, or franchised 25 hotels across 13 states, showcasing its expertise in creating high-quality properties. Notable projects include the Chase Suite Hotel in Brea, California.
Impact on the Hospitality Market
This refinancing underscores the resilience of the hospitality sector in prime markets like Marina del Rey. As travel and tourism continue to rebound, properties offering unique experiences and top-tier amenities are in high demand. The loan not only supports Hardage Hospitality’s financial stability but also positions the hotel as a key player in the competitive Los Angeles hospitality market.
Conclusion
The $88.5 million refinancing deal is a testament to Hardage Hospitality’s reputation and the value of its dual-branded Marriott in Marina del Rey. With its strategic waterfront location, upscale amenities, and robust financial backing, this property is set to thrive as a beacon of luxury and comfort for travelers.
As the hospitality industry evolves, Hardage Hospitality continues to demonstrate its ability to adapt and excel, paving the way for future success. The Courtyard & Residence Inn Marina del Rey isn’t just a hotel—it’s a destination.