The Bacara Resort & Spa in Goleta is being rebranded as the Ritz-Carlton Bacara, Santa Barbara.

The Ritz-Carlton confirmed the sale and rebranding of the Bacara Resort & Spa in Goleta on Sept. 29, after what it called a “multimillion-dollar” renovation.

The Business Times was the first to report news of the Bacara’s rebranding as a Ritz-Carlton on Sept. 12.

The hotel will now be named the Ritz-Carlton Bacara, Santa Barbara after its sale to two Carey Watermark investment arms and the renovation of its 358 guest rooms, suites and restaurants.

“We are delighted to welcome this iconic property into The Ritz-Carlton portfolio of nearly 100 hotels around the globe,” Hervé Humler, president and chief operating officer of Ritz-Carlton, said in a news release.

Guest spaces at the resort are also planned to receive “significant additional investments,” including meeting and event areas, the main lobby, fitness center, pools and spa, as well as the construction of a Ritz-Carlton Club Lounge.

“We believe that the extensive, recently completed renovations and the Ritz-Carlton rebranding, in combination with our further investment in strategic property improvements and implementation of value-add operational enhancements, will increase overall profitability and reposition the property at the top of its competitive set within both the Santa Barbara and the luxury Southern California oceanfront resort markets,” Carey Watermark Investors CEO Michael Medzigian added.

• Contact Marissa Nall at mnall@pacbiztimes.com.