South Coast firms launch statewide hotel building spree with Pismo project
Two Santa Barbara firms are backing a 30-year veteran of the hospitality development market and his plans to build out hotels along the California coast, with the first test project taking shape in Pismo Beach.
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Hummingbird Nest rezoning paves way for Simi’s first 5-star resort
Texas billionaire David Saperstein has finally secured approval to have Hummingbird Nest Ranch rezoned, paving the way for Simi Valley’s first five-star resort.
Read More →Kimpton raises flag in Goleta
The former Holiday Inn on Calle Real in Goleta will officially start flying the Kimpton Hotels & Restaurants flag in July. The San Francisco-based boutique hotel operator said it has partnered with Newport Beach-based hotel owner Makar Properties to rebrand the 150-room hotel as The Goodland following a renovation. Makar Properties purchased the hotel for Read More →
Read More →Hotel Oceana gets a new name as waterfront inns ready for boom
The 122-room property at 202 W. Cabrillo Blvd. was purchased last month by Philadelphia-based investment firm HHM for $41.7 million, including the assumption of $24.9 million in mortgage debt.
Read More →Santa Barbara firms team up to buy Avila Beach hotel project
The project, which has not yet started to wind its way through what will likely be a lengthy entitlement process, is the second investment by Somera Management and Postcard Properties in south SLO County.
Read More →Big firms check in to Santa Barbara hotel boom
A Philadelphia company’s $41.7 million purchase of Hotel Oceana in Santa Barbara signals that large out-of-town investors are betting on a major boom in South Coast tourism.
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