Pacifica buys another Cambria hotel
Pacifica Hotels has added to its Central Coast portfolio of independent hotels with its acquisition of San Simeon Pines Seaside Resort in Cambria, the company announced on Feb. 25.
Pacifica has been on a hotel buying spree throughout the Central Coast. It now has six properties in Cambria and a total of 34 along the California Coast.
The 60-room resort was built in 1959 just off the Pacific Coast Highway, about 8 miles away from the Hearst Castle. It includes a solar-heated pool, free parking, a private beach trail and lawn games.
Pacifica purchased the Milner Hotel in downtown Los Angeles in January and the El Colibri Boutique Hotel & Spa in Cambria in October. It also owns the Pelican Inn & Suites, FogCatcher Inn, Cambria Landing Inn & Suites and Fireside Inn on Moonstone Beach in Cambria.
“We are excited to add San Simeon Pines Seaside Resort to our Cambria portfolio. We believe there is a tremendous amount of upside in this large coastal property,” CEO and President Matt Marquis said in a news release. “In this rising market, we are excited to find these hidden gems along the California coastline that strategically fit perfectly with Pacifica’s overall vision.”
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 Double Tree Resort in Santa Barbara. The three-story hotel will have 115 to 120 rooms and a 90-space, semi-subterranean parking lot.
Pacifica is one of the largest independent hotel owners and operators along the Pacific Coast. It was formed in 1993 during the consolidation of its parent company, Invest West Financial Corporation. Pacifica has an office on Cliff Drive in Santa Barbara.
• Contact Alex Kacik at akacik@pacbiztimes.com.
