Investment Summary

• Mazili Hotel Group is pleased to offer the leasehold of this upscale select service Courtyard by Marriott. The asset was built in 1991 and consists of 190 King and Double Queen rooms. This Hotel was converted to a Courtyard in 1996 and was recently renovated in 2020. Amenities include two meeting rooms, a fitness center, business center, courtyard bistro, a convenience store and shuttle to/from LAX. The Courtyard caters well to both Business and Leisure guest who stay in and around the LAX area with the many industries, entertainment and beaches within a few miles.
• The Los Angeles area is full of demand generators, year end 2023, Los Angeles had 49.1 million total visitors, 97% recovered to 2019, 40.4 billion in total business sales (106.9% to 2019). Hotel demand grew to 30.2 million total room nights sold with hotel occupancy rising to 71.7%, and ADR reaching $198. Los Angeles also had 5.8 million visitors from key international markets such as Mexico, Canada, China, United Kingdom, South Korea, Australia, France, Japan, Germany and India. With the ongoing modernization of LAX will bring an increase in travelers coming through LAX.

The Opportunity

• Management & Debt: The Asset is offered unencumbered by debt and management The Franchise: The hotel is under a franchise agreement with Marriott International. Marriott Franchise is one of the leading hotel franchises in the world with over 5000 properties worldwide and over 100 million rewards members. Property Improvement Plan: The Asset was renovated in 2020, and we do not expect a PIP at the time. The Brand: Courtyard Hotels is open in space and spirit. Fresh, purposeful environments and vibrant spaces that bring people together. The next generation of hotel, using technology and design to enhance experiences and move at the pace of the guests.