Two Wine Country hotels, the Cambria Hotel Sonoma and Cambria Hotel Napa, are for sale, with seller Stratus Development Partners said to be seeking roughly $110 million, or about $450,000 per key, for the 225-room portfolio.
The 90-room Cambria Hotel Napa opened in August 2021, while its 135-room counterpart in Rohnert Park, the Cambria Hotel Sonoma Wine Country, debuted in August 2020. The entitlement process for both hotels took nearly a decade, per the offering memo. Firas Turkmani, director of Ackman-Ziff's hospitality group, disputed the target asking price given to me by a source but declined to comment further, citing a confidentiality agreement. The confidential offering memorandum does not list an asking price for the Cambria portfolio.
While the occupancy over the past 12 months including August was 63.9% combined, Avison Young is forecasting an increase to about 75% in 2025.