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Pacifica Hotels buys Milner Hotel in Los Angeles

By   /   Monday, January 25th, 2016  /   Comments Off on Pacifica Hotels buys Milner Hotel in Los Angeles

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Pacifica Hotels purchased The Milner Hotel in downtown Los Angeles, the company announced on Jan. 25.

Pacifica is one of the largest independent hotel owners and operators along the Pacific Coast with an office on Cliff Drive in Santa Barbara. The company said it is evaluating its long-term strategy for the property at 813 S. Flower St. The Milner Hotel is near the home of the Los Angeles Lakers, the Staples Center. It is Pacifica’s 30th California hotel.

“Pacifica Hotels is proud to be a strong California company,” Pacifica CEO Matt Marquis said in a news release. “With this acquisition we are excited not only to contribute to Downtown LA’s extraordinary revival, but to continue to diversify Pacifica’s portfolio with an investment in such a vital financial and cultural city center.”

The Milner Hotel is Pacifica’s 10th Los Angeles area hotel. Other properties include The Carlyle Inn, Marina del Rey Hotel, Inn at Marina del Rey, Inn at Venice Beach, Jamaica Bay Inn, Redondo Beach Hotel, Hotel Hermosa and The Belamar.

It acquired El Colibri Boutique Hotel & Spa in Cambria in October. It also recently purchased the 31-room, 101-bed Wayfarer hostel in the Funk Zone at 12 E. Montecito St. from the Parker family.

Pacifica also plans to build a 55,000-square-foot, 45-foot tall hotel at 926 Indio Muerto St., not far from the Fess Parker Doubletree Resort. The three-story hotel will have 115 to 120 rooms and a 90-space, semi-subterranean parking lot.

Pacifica Hotels was formed in 1993 during the consolidation of its parent company, Invest West Financial Corp.

• Contact Alex Kacik at [email protected]

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