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News release

SAN JOSE, CA

Silicon Valley Hotel Attracts International Capital

JLL closes sale of Holiday Inn San Jose


SAN JOSE, Calif., Jan. 22, 2015 – Only one mile from Mineta San Jose International Airport and in the direct path of Silicon Valley growth, the prime location of the Holiday Inn San Jose drove investor interest in the asset. On behalf of Pacifica Companies, JLL’s Hotels & Hospitality experts today announced the sale of the hotel to Aju Hotels and Resorts.

A division of a Korean conglomerate, Aju Hotels and Resorts is seeking to expand its presence in the United States.  This purchase represents Aju’s second in the country, and the firm expects to make additional purchases in the near future.  The seller, Pacifica Companies, is a privately-owned San Diego based real-estate firm with operations that span the globe.

Managing Director John Strauss and Senior Vice President Mark Fraioli led the JLL team on the transaction.

“The property’s Silicon Valley address, strong revenue performance, and recently renovated condition led many investors to bid on this asset,” said Fraioli. “This transaction serves as a testament to the strength of the Silicon Valley lodging market and the growing role of foreign investors in U.S. hotel real estate.”

The 354-key hotel is located near the airport, the new home of the San Jose Earthquakes Major League Soccer franchise, the San Francisco 49ers’ Levi’s Stadium, and the North First Street technology corridor. The hotel features recently renovated guest rooms, 12,000 square feet of meeting and event space, a full-service restaurant, lounge, and an outdoor pool. Alliance Hospitality will manage the property, its first full-service hotel in California.

JLL's Hotels & Hospitality Group serves as the hospitality industry’s global leader in real estate services for luxury, upscale, select service and budget hotels; timeshare and fractional ownership properties; convention centers; mixed-use developments and other hospitality properties. The firm’s more than 320 dedicated hotel and hospitality experts partner with investors and owner/operators around the globe to support and shape investment strategies that deliver maximum value throughout the entire lifecycle of an asset. In the last five years, the team completed more transactions than any other hotels and hospitality real estate advisor in the world totaling more than US $48 billion, while also completing approximately 4,500 advisory, valuation and asset management assignments. The group’s hotels and hospitality specialists provide independent and expert advice to clients, backed by industry-leading research.

For more news, videos and research from JLL’s Hotels & Hospitality Group, please visit: www.jll.com/hospitality, download the JLL Hotels & Hospitality Group app for iOS and Android, or view our e-magazine The Hotel Investor, available for iPad.

About JLL
JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual fee revenue of $4.0 billion and gross revenue of $4.5 billion, JLL has more than 200 corporate offices, operates in 75 countries and has a global workforce of approximately 53,000.  On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 3.0 billion square feet, or 280.0 million square meters, and completed $99.0 billion in sales, acquisitions and finance transactions in 2013. Its investment management business, LaSalle Investment Management, has $53.0 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.