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Opinion: Mayor, council, DA must get to bottom of Housing Commission scandal

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The editorial board operates independently from the U-T newsroom but holds itself to similar ethical standards. We base our editorials and endorsements on reporting, interviews and rigorous debate, and strive for accuracy, fairness and civility in our section. Disagree? Let us know.
The San Diego Housing Commission is enmeshed in a messy scandal. Jim Neil the broker who helped the commission buy Residence Inn Mission Valley for $67 million for use as housing for homeless residents bought 40,000 shares in Chatham Lodging Trust, the hotel’s owner, while the deal was pending, as first reported by Voice of San Diego.
This raises all sorts of alarm bells. As The San Diego Union-Tribune’s Jeff McDonald reported in February, the commission appeared to have overpaid for the property, based on other sales of hotel properties in San Diego County. Since Neil was acting on a government agency’s behalf, his actions could be a criminal violation of state conflict-of- ....

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Chatham Lodging Trust (CLDT) Q1 2021 Earnings Call Transcript

Chatham Lodging Trust (CLDT) Q1 2021 Earnings Call Transcript
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Chatham Lodging Trust (NYSE: CLDT)
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Operator
Greetings, ladies and gentlemen, and welcome to Chatham Lodging Trust s First Quarter 2021 Financial Results Conference Call. [Operator Instructions]
As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Chris Daly. Thank you, sir. You may begin.SPONSORED:
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Chatham Lodging Trust (CLDT) Q4 2020 Earnings Call Transcript

Operator
Greetings and welcome to Chatham Lodging Trust s Fourth Quarter 2020 Financial Results Conference Call. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to introduce your host, Chris Daly, owner of Daly Gray, Inc. Thank you. You may begin.
Chris Daly
Investor Relations, DG Public Relations
Thank you, Doug. Good afternoon everyone and welcome to the Chatham Lodging Trust fourth quarter 2020 results conference call.
Please note that many of our comments today are considered forward-looking statements as defined by federal securities laws. These statements are subject to risks and uncertainties both known and unknown as described in our most recent Form 10-K and other SEC filings. All information in this call is as of February 24, 2021, unless otherwise noted, and the company undertakes no obligation to update any forward-looking statement to conform the statement to actual results or changes in the co ....

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San Diego pays top dollar and near-top dollar for hotels to house the homeless

The city of San Diego appears to have paid above-market rates for the two Residence Inn hotels it purchased late last year for just over $106 million, properties that city officials are relying on to help reduce the homeless population across the community.
According to an analysis of sales data obtained by The San Diego Union-Tribune, the Residence Inn Mission Valley cost taxpayers $67 million not including a $502,000 broker’s fee paid by the buyer or just under $349,000 for each of 192 rooms.
That was the highest per-room cost for any hotel sold in San Diego County last year and it was based on a valuation that was set weeks before the global coronavirus pandemic wreaked havoc on the hospitality industry. ....

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COVID-19 Did Not Affect Hotel Sales in California

18 February 2021
COVID-19 has had a devastating impact on hotel sales transactions in every state – except California. California’s new hotel construction in 2020 also continues at slowed pace following a record-breaking pace set in the first half of 2019.
In 2020 the total number of hotel sales in the US plummeted by 52.6%, New York State was down 62%, Texas down 54% and Florida down 48%.
California on the other hand had a slight increase in sales from 2019, up 0.3% and accounted for 28% of all of the Sales in the US in 2020, according to Atlas Hospitality’s California Hotel Sales Survey 2020 Year-End.
California hotel sales transactions were 15.5% higher than Florida, Texas, and New York States, combined. ....

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