"A South Bay hotel with a prominent perch across the freeway from the Pruneyard Shopping Center has been bought at a price that reflects relatively weak values for Bay Area hospitality hubs. Ankit Panchal, a San Jose-based business executive with experience in hotels, led the group that bought the Campbell Inn for $11 million, according to documents filed on Dec. 31 with the Santa Clara County Recorder's Office."
"The deal was completed as the Bay Area hotel market battles against a wave of loan defaults, plunging prices and property foreclosures that have stifled purchasing activity and new development. The 95-room hotel, located at 675 E. Campbell Ave., is highly visible from State Route 17. The price that the Panchal-led group paid for the Campbell Inn worked out to roughly $115,800 per room."
"In sharp contrast, prior to the coronavirus outbreak, hotels frequently were bought for well over $200,000 a room. In 2018, San Jose's largest hotel, located at 170 South Market St. in downtown San Jose, was bought for $277,600 per room. A foreclosure in May 2025 valued the hotel, known as the Signia by Hilton San Jose, at $147,900 a room. Transactions that occurred throughout 2025 showed that hotel values have continued to plummet."
A South Bay hotel across from the Pruneyard Shopping Center sold for $11 million to a group led by San Jose executive Ankit Panchal, reflecting weakened Bay Area hotel values. The 95-room Campbell Inn at 675 E. Campbell Ave. sold for roughly $115,800 per room. The sale occurred amid a wave of loan defaults, plunging prices and property foreclosures that have stifled purchases and new development. Pre-coronavirus hotel transactions often exceeded $200,000 per room, including a 2018 San Jose sale at $277,600 per room. 2025 foreclosures valued major hotels at $147,900 and $140,000 per room, signaling continued decline.
Read at www.mercurynews.com
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