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S.D. hotelier finds investing locally is to his liking.

Publication: San Diego Business Journal
Publication Date: 25-JUL-05
Format: Online - approximately 659 words
Delivery: Immediate Online Access

Article Excerpt
San Diego-based American Property Management Corp., which owns and manages hotels across the county, is increasing its stake in its hometown with the acquisition of the Holiday Inn Mission Bay SeaWorld and plans to build a posh hotel in Downtown.

Michael Gallegos, the firm's president and chief executive officer, declined to say what it paid to acquire the 316-room Point Loma hotel from Orange County-based Tarsadia Hotels earlier this month. But according to industry sources, the hotel fetched about $30 million.

Gallegos also declined to cite the location of the hotel that American Property Management plans to build...

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