(KTLA) -- Two small, aging hotels next to Disneyland Resort will likely meet the wrecking ball to make way for larger hotel development.
In late June, Sunstone Development purchased the 60-year-old, 24-room Budget Inn located at Disneyland Drive and Ball Road for $12 million, the Orange County Register reports.
Last September, Sunstone also acquired the adjacent 44-room Days Inn by Wyndham, which hasn't been renovated in 39 years, for $8.66 million.
The company that brokered the Budget Inn deal said Sunstone is exploring “long-term alternative strategies for the site including full-service hotel uses,” according to the O.C. Register.
Both existing hotels are located northwest of Disneyland Resort and roughly a half-mile from the west entrance to Downtown Disney.
Otto Ozen, an executive with the brokerage group, told the O.C. Register that Sunstone sees the properties as “much more valuable than the sum of its parts.”
No timeline for the potential development has been released.
from KRON4 https://ift.tt/JK5E8jZ
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