Just weeks after the announcement of plans for a new Cambria hotel in downtown Napa, the owner of the property has sold it to the developer.
On June 2, Choice Hotels International, Inc., announced it had partnered Stratus Development Partners, LLC, of Newport Beach to develop plans for a 90-room Cambria hotel at 320 Soscol Ave., a main thoroughfare into downtown Napa from Silverado Trail.
On June 30, George Altamura Enterprises sold the 2.5 acre parcel to Stratus for $5.25 million.
The four-story project will cost about $30 million, according to David Wood, Stratus partner, and the new deal will not alter plans.
In January, Choice Hotels announced another partnership with Stratus on development of a 135-room hotel in Rohnert Park about a half-mile from Graton Resort & Casino. The cost for that project is also about $30 million.
Both hotels are expected to open in 2019.
Cambria is the boutique arm of Choice Hotels, the two projects are part of an expansion of the brand to the West Coast, according to Janis Cannon, senior vice president for upscale brands at Choice Hotels.
“The Napa Valley area continues to grow as a premier destination for travelers from all over the country, and we look forward to providing guests with an upscale option in the area to meet the needs of the modern traveler,” Cannon said in a statement.
Cynthia Sweeney covers health care, hospitality, residential real estate, education, employment and business insurance. Reach her at Cynthia.Sweeney@busjrnl.com or call 707-521-4259.