Bacara Resort Sold to Ritz Carlton

Bacara Resort Sold to Ritz Carlton title=
Bacara Resort Sold to Ritz Carlton
Reads 8224

(Facebook Photo)

The owners of Bacara Resort & Spa confirmed they have entered into the final stages of selling the Goleta property, reports Pacific Coast Business Times.

Pacific Hospitality Group, the management company of the Bacara Resort, apparently declined to provide names of the potential buyer. However, Pacific Coast Business Times reports, "it has been bought by New York real estate investment trust Carey Watermark and would be operated by Ritz-Carlton. Marriott, the owner of the Ritz-Carlton brand, has advertised job openings for several new positions on its website for the Bacara Ritz-Carlton, which the website said is being converted in September of 2017."

The details and amount of the potential sale have not been disclosed.

The 360-room hotel was purchased in 2013 by Pacific Hospitality Group from Ohana Real Estate Investors, who had purchased it from ADCO Group in 2011 for an estimated $104 million.

Login to add Comments


Toggle Comments (Show)
a-1591383907 Oct 12, 2017 12:15 AM
Bacara Resort Sold to Ritz Carlton

Hopefully they don't try to encroach on the beautiful Goleta coastline anymore than this monstrosity already has.

haskelslocal Oct 09, 2017 07:59 AM
Bacara Resort Sold to Ritz Carlton

Here is the press release from Carey Watermark.

Please Login or Register to comment on this.