April 26, 2024
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Hotel Oceana gets a new name as waterfront inns ready for boom

By   /  Friday, April 18th, 2014  /  Real Estate, South Coast, Tourism, Tri-County Economy  /  Comments Off on Hotel Oceana gets a new name as waterfront inns ready for boom

The 122-room property at 202 W. Cabrillo Blvd. was purchased last month by Philadelphia-based investment firm HHM for $41.7 million, including the assumption of $24.9 million in mortgage debt.

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Big firms check in to Santa Barbara hotel boom

By   /  Friday, March 14th, 2014  /  Real Estate, South Coast, Top Stories, Tourism, Tri-County Economy  /  Comments Off on Big firms check in to Santa Barbara hotel boom

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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Hotel Oceana sells to Philadelphia firm for $41.7M

By   /  Thursday, March 6th, 2014  /  Real Estate, Top Stories, Tourism  /  Comments Off on Hotel Oceana sells to Philadelphia firm for $41.7M

Hersha Hospitality Trust said it purchased the 122-room Santa Barbara hotel as part of a strategy to get into one of the “highest-demand gateway markets in the United States.”