San Diego's 210-room Estancia La Jolla Hotel & Spa has been purchased by Pebblebrook Hotel Trust for $108 million.
Spanning ten acres on La Jolla's cliffside coastline, Estancia is located near University of California San Diego campus in the affluent coastal community of La Jolla. The resort is a short walk from Black’s Beach, next door to the world-renowned Salk Institute for Biological Studies, and adjacent to the University of California, San Diego. The resort contains 210 spacious guestrooms and suites and over 50,000 square feet of indoor and outdoor meeting and event space (originally built as a conference center) surrounded by charming courtyards and verdant gardens perfect for leisure travelers, weddings and corporate groups. The resort also features numerous indoor and outdoor dining venues, including Mustangs & Burros, Greenfinch Restaurant & Bar, Haven Bar & Grill, Blend Café and Secret Garden, which serve an array of authentic West Coast cuisine. Additional resort amenities include Spa Estancia, a 7,000 square-foot sanctuary with 11 indoor and outdoor treatment rooms, a eucalyptus steam room, a fitness center and an outdoor saltwater pool with poolside cabanas, all of which offer guests an opportunity for fun and relaxation.
"We are extremely excited to acquire this premier resort in the rapidly growing La Jolla market," said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. "With ten lush acres, quiet courtyards and adobe fireplaces, Estancia is a southern California lifestyle destination that blends historic Spanish architecture with modern amenities. This acquisition provides us numerous opportunities to increase the resort’s rate positioning, drive significantly higher total revenues and implement an extensive list of operating and physical enhancements. Our redevelopment expertise, combined with Noble House’s extensive track record of repositioning unique resorts, should generate tremendous value creation for Estancia."
Pebblebrook is evaluating numerous operating and physical enhancements for additional upside and increased cash flow, including renovations to the property’s guestrooms, lobby, spa and pool areas, event lawns and expansive ballroom. The resort will also become part of Curator Hotel & Resort Collection, which is expected to result in a wide array of expense reductions and enhanced technology and operating initiatives for the resort.
Pebblebrook is evaluating numerous operating and physical enhancements for additional upside and increased cash flow, including renovations to the property’s guestrooms, lobby, spa and pool areas, event lawns and expansive ballroom. The resort will also become part of Curator Hotel & Resort Collection, which is expected to result in a wide array of expense reductions and enhanced technology and operating initiatives for the resort. The acquisition of Estancia brings the total number of properties in the Company’s portfolio to 53, including 11 unique drive-to, independent lifestyle resorts.
Estancia La Jolla is located at 9700 North Torrey Pines Road in San Diego's La Jolla. For more information, visit estancialajolla.com.
