Feeling Expansive, Irvine Co. May Add On at Four Seasons

With hotel occupancy on the rise and office buildings almost fully leased up in tony Newport Center, the Irvine Co. is mulling an expansion of its 280-room Four Seasons Hotel. The real estate giant has asked architect Wimberly Allison Tong & Goo in Newport Beach to put together some preliminary designs for a 75- to 100-room expansion, including additional meeting space.

“We’re experiencing the best occupancy in the history of the hotel,” said Richard Sim, Irvine Co. executive vice president. “Business is quite good and whenever it is we look at expansion.” Although occupancy is up around 80% at the hotel, the company plans to study the market further and could take up to a year before deciding to build, he said.

In the airport area, hotel room rates have increased over 13% in the past year to an average of $96.69 in May, and occupancy has tightened up to about 71%, according to PKF Consulting, a Los Angeles-based hotel research firm.

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Melinda Fulmer covers real estate for The Times. She can be reached at (714) 966-7832 and at melinda.fulmer@latimes.com.