Good Hope International will utilize the Hotel Incentive Policy passed by the Anaheim City Council majority (Kris Murray, Lucille Kring, Jordan Brandman) earlier this summer to build a 580-room luxury hotel across Harbor Boulevard from Disneyland on the site of the venerable Anaheim Plaza Hotel and Suites.
The 8.8 acres site will be scraped to make way for a four diamond property standing 78-feet tall, with 25,000 square feet of retail and 50,000 square feet of meeting space.
According to the OC Register:
While the luxury brand has not been announced, the proposed hotel would be built on 8.8 acres of land near Harbor Boulevard and Disney Way and open sometime in 2018, according to a development plan delivered Tuesday to Anaheim’s Planning Department.
It would cost more than $160 million to build the hotel, financed in large part by a 70 percent return on bed taxes collected there over 20 years under a relatively new economic incentive aimed at encouraging developers to build hotels that meet AAA’s guidelines for four-diamond ratings.
At the end of the agreement, the city would collect 100 percent of the bed taxes generated by the hotel.
“We believe the market is ready for another four-diamond hotel in Anaheim,” said Paul Sanford, asset manager for the Wincome Group, which also owns the Anabella Hotel in Anaheim and the Avenue of the Arts Hotel in Costa Mesa.
“We’re seeing higher-end conventioneers and higher-end leisure tourists with the expansions going on at the Convention Center and at Disneyland,” Sanford said. “We think it will contribute to the higher-spending demographics of people wanting to stay and spend in the area.”
But wait! We thought this policy would fail to attract four-diamond hotels to Anaheim? At least, that’s what the OC Register editorial page chortled back in June – several weeks before a deal was inked for to bring a luxury JW Marriott to the GardenWalk under the agreement on which the broader Hotel Incentive Policy is based.
Now, another four-diamond brand is being built under the incentive policy. It would seem to be working, and also vindicating the council majority’s decision to expand the Anaheim Convention Center.