TownePlace Suites in Vista, Calif., sold

TownePlace Suites Vista, Calif.

An affiliate of the Marwaha Group of Anaheim, Calif., purchased the TownePlace Suites hotel in Vista, Calif.

The 94-room hotel was sold by TMACK Melrose, based in Carlsbad, Calif., and the hotel traded for $15 million.

This is Marwaha's second hotel transaction in the San Diego region this year. The first was when an affiliate of the group, known as Fortune Hospitality, bought a Best Western Plus in La Mesa, Calif., for $12.4 million from Sikland La Mesa Hotel based in Beverly Hills. The Best Western Plus sale took place in January.

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Each of the hotels sold for roughly $159,000 per room.

Titan Hospitality in Pasadena, Calif., represented both the buyer and the seller in the most recent deal. Atlas Hospitality represented the buyer and seller in the earlier deal with Fortune Hospitality.

Marwaha Group's MG Hospitality division will operate the hotel, and Marwaha plans to develop and purchase more hotels in the future.

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