Episode Details

Two Hyatt House hotels in the East Bay sold at auction for significantly reduced prices, indicating the Bay Area lodging market is still struggling post-pandemic. The Pleasant Hill hotel went for $26,600 per room, while the Pleasanton hotel sold for $6,250 per room. These prices are astonishingly low, especially considering the cost of building a new hotel today. The decline in hotel values is causing concern, as it could lead to budget cuts, layoffs, and potential tax hikes due to decreased tax revenues. The East Bay hotel scene is evolving, but currently, its a buyers market, with potential ripple effects across the region.

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