The Bacara Resort is a luxurious beachfront hotel located in Goleta, California. It boasts of stunning views of the Pacific Ocean and is a popular vacation spot for people from all over the world.
However, have you ever wondered who owns this magnificent resort? Let’s delve into the ownership details of the Bacara Resort.
History of the Bacara Resort
The Bacara Resort was opened in 2000 as a Ritz-Carlton property after an initial investment of $150 million. The resort was built on 78 acres of land and had 358 guest rooms, four restaurants, and a 42,000 square foot spa. In 2011, the resort was sold to Pacific Hospitality Group for an undisclosed amount and was rebranded as The Bacara Resort & Spa.
Pacific Hospitality Group
Pacific Hospitality Group (PHG) is a privately-owned hotel development company based in Irvine, California. The company was founded by Tim Busch in 1987 and has since then acquired and developed several hotels and resorts across California. PHG’s portfolio consists of luxury properties like Balboa Bay Resort, Estancia La Jolla Hotel & Spa, Meritage Collection Napa Valley, and more.
Timothy Busch – Founder & CEO
Timothy Busch is an entrepreneur with more than three decades of experience in hospitality development. He is the founder and CEO of Pacific Hospitality Group and has been instrumental in its growth over the years. Busch has received several accolades for his work in the hospitality industry including being named “Entrepreneur of the Year” by Ernst & Young.
Conclusion
In conclusion, The Bacara Resort is owned by Pacific Hospitality Group (PHG), a hotel development company based in Irvine, California. PHG acquired the property from Ritz-Carlton in 2011 and has since then rebranded it as The Bacara Resort & Spa.
Timothy Busch, the founder, and CEO of PHG have been instrumental in the company’s growth and success. Whether you’re looking to vacation at The Bacara Resort or invest in Pacific Hospitality Group, knowing who owns this magnificent property is crucial information.
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