While in the car over in Anaheim Hills after our drive back from Palm Springs this morning, we decided to double back to Laguna Beach before heading up to Santa Barbara and Montecito. This will give us a chance to rest, walk around the downtown area of the city since we both liked it so much more than we expected, and really get to know it better than we did the first time we drove through on our way to down to La Jolla and then back up to Temecula wine country.
[mainbodyad]We made a phone call and had someone book the nearest, easiest hotel relative to the downtown area around the Laguna Beach shops. We wanted to be able to walk out to the water and around the retailers, restaurants, and art galleries. They secured a spot for us at the Holiday Inn right across from the ocean. It’s an older hotel but so convenient I imagine it generates a lot of business during the busy seasons at rates disproportional to the room size and quality (typically $250 to $350 per night). I’d love to get my hands on the financial statements and value it.
It has so few rooms I can’t imagine the return on capital is very high given the incredible value of the land on which it stands, though it may appear to be given the historical cost of the property on the balance sheet of the owner if it’s been in his or her hands for a long time. This might be a side project of mine to satisfy the curiosity. Looks like I’ll be pulling property records when back home.
As always, the pictures enlarge if you want to see them in more detail.
I’m going to try and get this posted but the so-called “high speed Internet” here is a joke. You may not see this for several days. I’ll finish editing it once we get to Montecito and all of the images have had a chance to upload and sync. We’re leaving in the morning and, on the drive, should see Newport Beach, Newport Coast, Huntington Beach, Seal Beach, Long Beach, Ranchos Palos Verdes, Palos Verdes Estates, Rendondo Beach, Hermosa Beach, Manhattan Beach, Santa Monica, Malibu, Oxnard, Ventura, and finally, Montecito, Santa Barbara, Goleta, etc. It’s going to be a long day but the drive should be pretty.