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Big firms check in to Santa Barbara hotel boom

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By Friday, March 14th, 2014

The 122-room Hotel Oceana on Santa Barbara’s waterfront has been purchased for $41.7 million by a Philadelphia investment trust that wants to expand on the West Coast. (Alex Drysdale / Business Times photo)
A Philadelphia company’s $41.7 million purchase of Hotel Oceana in Santa Barbara signals that large out-of-town investors are betting on a major boom in South Coast tourism.

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