Description

Entitled for 105 Hotel Rooms!

The subject property sits on a well appointed 2.46 acre parcel of land with surrounding retail and residential areas. A portion of the lot will be for hotel development and the remaining land has been proposed for residential living and a restaurant. The area of Pismo Beach relies heavily on visitors from within California, major feeder cities being Fresno, Los Angeles and Sacramento. The Conference and Visitors Bureau has been attracting travelers from within California as well as Nationally and some International travelers. The cities easy access from Highways 46 and 101 help maintain the cities popularity and demand as a tourist destination.

Pismo Beach is attracts visitors from both Northern and Southern California
and demand is almost entirely leisure driven. There is additional demand
from hotels with meeting space for company retreats and corporate events.
The subject property is at an ideal location with easy access to both Pismo
Beach and Grover beach with frontage on highway 101, great visibility and
easy freeway access.

The population of San Luis Obispo County has been growing steadily year
over year and between Pismo and Grover beach there is a population of well
over 20,000 people. Pismo Beach offers some of the best surfing along the
California coastline with visitors coming from all over the state to enjoy some
of the clearest and most pristine beaches California has to offer. Pismo Beach
is also the only oceanfront community on Highway 101 between Santa Barbera
and San Francisco.

Pismo Beach offers tourists with unparalleled ocean views, relaxed small town
vibes and a vacation experience unlike any other in California. The area will
continue to see strong ADR and Occupancy thanks to consistent in-state visitors
and a growing national and international reach.