Business & Finance

Pacific Hospitality Group Sells Bacara Resort & Spa

IRVINE, CA. October 3, 2017 – Pacific Hospitality Group (PHG) announces the completion of the Bacara Resort & Spa sale transaction to Carey Watermark Investors Incorporated (CWI 1) and Carey Watermark Investors 2 Incorporated (CWI 2). The two non-traded real estate investment trusts (REITs) will rebrand the property as The Ritz-Carlton Bacara, Santa Barbara.

Since PHG and its lead investors Eagle Four Partners and William Foley acquired Bacara Resort & Spa in February 2013, ownership has invested more than $27 million into property enhancements, including a complete guestroom renovation, the development of a new award-winning signature restaurant Angel Oak, and upgrades to the resort’s technology and other F&B venues.

“These key investments coupled with our team’s commitment to exemplary service and operational excellence made Bacara Resort & Spa such an attractive asset,” said Kory Kramer, chief investment officer, PHG. “The completion of this sale transaction is a true accomplishment for PHG and our investors. Bacara is in great hands as we pass the torch of ownership to Carey Watermark Investors and management to The Ritz-Carlton.”

“We are grateful for the incredible opportunity to have been good stewards of Bacara,” said Tim Busch, CEO of PHG. “We are proud of our many achievements, including dramatically increasing profitability, guest satisfaction and service, group events, and overall excellence. Bacara and its surrounding community will always hold a special place in our hearts and it was a privilege to bring this iconic resort to new levels of success.”

Bacara Resort & Spa was a part of PHG’s Meritage Collection, a portfolio of lifestyle and luxury properties that blend iconic, one-of-a-kind places with locally-inspired experiences. There are currently six other properties in the Collection: Paséa Hotel & Spa in Huntington Beach, Balboa Bay Resort in Newport Beach, Estancia La Jolla Hotel & Spa near San Diego, Ko’a Kea Hotel & Resort in Kauai, The Meritage Resort and Spa in Napa Valley, and the currently under construction Village at The Meritage Resort, which is an all-new resort and wine-tasting experience set to open summer 2018 at the Meritage Resort and Spa.

For more information, visit www.pacifichospitality.com or meritagecollection.com.

About Pacific Hospitality Group

Established in 1987, Pacific Hospitality Group (PHG) is a growing hospitality company with 11 hotels in California, Hawaii and Louisiana. Based in Irvine, California, the company owns, manages, finances and develops hotels in iconic destinations. PHG serves as the parent company to a portfolio of lifestyle and luxury properties known as the Meritage Collection. Meritage Collection hotels include Paséa Hotel & Spa in Huntington Beach, Balboa Bay Resort in Newport Beach, Estancia La Jolla Hotel & Spa near San Diego, Ko’a Kea Hotel & Resort in Kauai, The Meritage Resort and Spa in Napa Valley, and the Village at The Meritage Resort, an all-new resort and wine-tasting experience at the storied Meritage Resort (opening summer 2018). Pacific Hospitality Group also serves as the franchisee of the following properties: Wyndham Anaheim Garden Grove, AC Hotel Phoenix Tempe/Downtown, AC Hotel Irvine, AC Hotel New Orleans Bourbon/French Quarter Area, DoubleTree by Hilton Irvine Spectrum, and DoubleTree by Hilton Santa Ana /Orange County Airport. Other PHG affiliations include Trinitas Cellars, Balboa Bay Club and the Newport Beach Country Club. For more information, visit www.pacifichospitality.com or www.linkedin.com/company/pacific-hospitality-group.

Coming Up In The November Online Hotel Business Review




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Feature Focus
Architecture & Design: Authentic, Interactive and Immersive
If there is one dominant trend in the field of hotel architecture and design, it’s that travelers are demanding authentic, immersive and interactive experiences. This is especially true for Millennials but Baby Boomers are seeking out meaningful experiences as well. As a result, the development of immersive travel experiences - winery resorts, culinary resorts, resorts geared toward specific sports enthusiasts - will continue to expand. Another kind of immersive experience is an urban resort – one that provides all the elements you'd expect in a luxury resort, but urbanized. The urban resort hotel is designed as a staging area where the city itself provides all the amenities, and the hotel functions as a kind of sophisticated concierge service. Another trend is a re-thinking of the hotel lobby, which has evolved into an active social hub with flexible spaces for work and play, featuring cafe?s, bars, libraries, computer stations, game rooms, and more. The goal is to make this area as interactive as possible and to bring people together, making the space less of a traditional hotel lobby and more of a contemporary gathering place. This emphasis on the lobby has also had an associated effect on the size of hotel rooms – they are getting smaller. Since most activities are designed to take place in the lobby, there is less time spent in rooms which justifies their smaller design. Finally, the wellness and ecology movements are also having a major impact on design. The industry is actively adopting standards so that new structures are not only environmentally sustainable, but also promote optimum health and well- being for the travelers who will inhabit them. These are a few of the current trends in the fields of hotel architecture and design that will be examined in the November issue of the Hotel Business Review.