Posted 2/25/2013 - 12:11:45 PM
Exterior of the Bacara Resort & Spa
IRVINE, CA—BRS Ventures, LLC, an affiliate of Pacific Hospitality Group, LLC, has purchased the Bacara Resort & Spa in Santa Barbara, CA, from SB Luxury Resort, an affiliate of Ohana Real Estate Investors and Rockpoint Group, which have owned the property since 2011. The purchase price was not disclosed.
Bacara Resort & Spa, which opened in 2000, includes 354 guestrooms and suites, four restaurants and lounges, a four-story spa and wellness center, three swimming pools and 50,000 sq. ft. of function space.
This is the newest California purchase for the company, which has acquired three other major coastal hotel assets in the past 15 months as part of its newly formed Meritage Collection: Estancia La Jolla Hotel & Spa in San Diego, Balboa Bay Resort in Newport Beach and The Meritage Resort and Spa in Napa.
Under the new ownership of Pacific Hospitality Group and its primary investors, Eagle Four Partners and Bill Foley, Bacara will undergo several enhancements, including a partnership with Foley Food & Wine Society.
The hotel will continue to operate as the Bacara Resort & Spa under the leadership of General Manager Kathleen Cochran.