Close Menu
Global News HQ
    What's Hot

    Your future self will thank you for this 1TB cloud space

    July 8, 2025

    A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts

    July 8, 2025

    2 Millionaire-Maker Technology Stocks | The Motley Fool

    July 8, 2025
    Recent Posts
    • Your future self will thank you for this 1TB cloud space
    • A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts
    • 2 Millionaire-Maker Technology Stocks | The Motley Fool
    • New Jersey Roundup Cases Coordinated in Bergen County | Law.com
    • Best Prime Day laptop deals 2025: Discounts on MacBooks, Windows, and more
    Facebook X (Twitter) Instagram YouTube TikTok
    Trending
    • Your future self will thank you for this 1TB cloud space
    • A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts
    • 2 Millionaire-Maker Technology Stocks | The Motley Fool
    • New Jersey Roundup Cases Coordinated in Bergen County | Law.com
    • Best Prime Day laptop deals 2025: Discounts on MacBooks, Windows, and more
    • This $2,000-a-night Resort Is on a Remote Island That Just Opened to Tourists—and It’s One of the Best New Hotels in the World
    • Shiba Inu Price Could See 180% Explosion As This Indicator Flashes Bullish Divergence
    • Russia Wants to Eliminate Tax Dodgers in Bitcoin Mining: Report
    Global News HQ
    • Technology & Gadgets
    • Travel & Tourism (Luxury)
    • Health & Wellness (Specialized)
    • Home Improvement & Remodeling
    • Luxury Goods & Services
    • Home
    • Finance & Investment
    • Insurance
    • Legal
    • Real Estate
    • More
      • Cryptocurrency & Blockchain
      • E-commerce & Retail
      • Business & Entrepreneurship
      • Automotive (Car Deals & Maintenance)
    Global News HQ
    Home - Luxury Goods & Services - LVMH to Sell Santa Barbara’s El Encanto Hotel for $82.2 Million
    Luxury Goods & Services

    LVMH to Sell Santa Barbara’s El Encanto Hotel for $82.2 Million

    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    LVMH to Sell Santa Barbara’s El Encanto Hotel for .2 Million
    Share
    Facebook Twitter LinkedIn Pinterest Email



    French luxury giant LVMH Moët Hennessey Louis Vuitton SE is selling its only US hotel, the El Encanto in Santa Barbara, California.

    The 90-room property — in a coastal getaway northwest of Los Angeles — is being purchased by a partnership of brothers Justin and Tyler Mateen and Culver Capital, according to representatives for the buyers. The price is $82.2 million, they said.

    “We look at it as we’re buying 20 percent of the class A luxury hospitality market in Santa Barbara, which we believe is a growing market,” Tyler Mateen said in an interview Monday.

    The sale price per room — about $900,000 — is comparable to other recent resort transactions in coastal California, where strict government regulations and a scarcity of land create high barriers to entry, according to Alan Reay, president of Atlas Hospitality Group, a hotel brokerage based in Newport Beach.

    “It may look expensive today, but 10 or 20 years from now it looks like a good deal,” Reay said.

    A spokesperson for LVMH declined to comment on the transaction but said LVMH-owned Bulgari Hotels & Resorts plans to open a hotel in Miami Beach, Florida, in 2028.

    The El Encanto’s new owners say they plan to manage the property themselves, meaning it will no longer be part of the Belmond chain, a group of resorts that LVMH purchased in 2019.

    “This property embodies the essence of California living and offers an experience like no other hotel on the Central Coast,” Garrett Cayton of Culver Capital, and the co-owner of The Discerning Travellers luxury travel agency, said in a statement.

    The Mateens have a growing portfolio of real estate and technology investments. Justin Mateen is a co-founder of the dating app Tinder. The brothers paid $69 million last month for a shopping center on Hollywood Boulevard in Los Angeles, and last year bought an office and retail complex on Rodeo Drive in Beverly Hills for $211 million.

    By John Gittelsohn

    Learn more:

    LVMH Extends Its Bet on Luxury Hospitality With Fontenille Deal

    LVMH Moët Hennessy Louis Vuitton SE has bought a stake of about 20 percent in Les Domaines de Fontenille, according to a person familiar with the transaction who declined to provide the entity’s value.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous ArticleFull moon July 2025: Why is it called the ‘Buck Moon’ and when is the best time to see it?
    Next Article Ariana Biermann Sheds New Light on Her Relationship With Her Mom, Kim Zolciak | Bravo

    Related Posts

    We’ll Have What He’s Having

    July 8, 2025

    JW Anderson Resort 2026 Collection

    July 7, 2025

    Global Fashion Agenda, Deloitte launch Fashion Impact Toolkit

    July 7, 2025

    AI Shopping Is Here. Will Retailers Get Left Behind?

    July 7, 2025
    Leave A Reply Cancel Reply

    ads
    Don't Miss
    Technology & Gadgets
    2 Mins Read

    Your future self will thank you for this 1TB cloud space

    TL;DR: Get 1TB of lifetime Koofr cloud storage for just $119.97 (reg. $810) with code…

    A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts

    July 8, 2025

    2 Millionaire-Maker Technology Stocks | The Motley Fool

    July 8, 2025

    New Jersey Roundup Cases Coordinated in Bergen County | Law.com

    July 8, 2025
    Top
    Technology & Gadgets
    2 Mins Read

    Your future self will thank you for this 1TB cloud space

    TL;DR: Get 1TB of lifetime Koofr cloud storage for just $119.97 (reg. $810) with code…

    A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts

    July 8, 2025

    2 Millionaire-Maker Technology Stocks | The Motley Fool

    July 8, 2025
    Our Picks
    Technology & Gadgets
    2 Mins Read

    Your future self will thank you for this 1TB cloud space

    TL;DR: Get 1TB of lifetime Koofr cloud storage for just $119.97 (reg. $810) with code…

    Health & Wellness (Specialized)
    4 Mins Read

    A Nurse Swears These $41 Sneakers Feel Like ‘Standing On Pillows’ for 12-Hour Shifts

    I spend a nice chunk of time on my feet. From cardio workouts to walking…

    Pages
    • About Us
    • Contact Us
    • Disclaimer
    • Homepage
    • Privacy Policy
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    © 2025 Global News HQ .

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version