Ventura's Pierpont Inn sold to investment group
After a proposed deal fell through a year ago, the Pierpont Inn in Ventura has been sold to a group of investors.
The Pierpont Inn said April 17 that it had been acquired by Pierpont Group LLC. Last March, the hotel’s owner – Central Coast Management – tried to engineer a sale to an investment group called Pierpont Inn Investors LLC, but the deal collapsed, according to reports published by the Ventura County Star.
Central Coast Management bought the Pierpont in 2005. The sellers didn’t immediately disclose the price of the sale or the names of the investors in Pierpont Group.
Pierpont Inn General Manager Pablo Sanchez didn’t immediately return a telephone call asking for more information about the deal, but he said in a press release that he plans to keep his position.
“We are all absolutely committed to continuing a very high level of service, fine dining and continuing to be a true historic treasure dedicated to Ventura County,” Sanchez said in the release.
The sale comes as the 77-room Pierpont Inn nears its 100-year anniversary in 2010.