Global Travel Media » Blog Archive » Pacific Hospitality Group Receives Top Honor for Bacara Resort & Spa Transaction

Home » Accolades » Currently Reading:

Pacific Hospitality Group Receives Top Honor for Bacara Resort & Spa Transaction

February 4, 2014 Accolades No Comments Email Email

Americas Lodging Investment Summit (ALIS) today announced the winners of their prestigious ALIS awards. The awards are based on outstanding business performance in various industry sectors and are determined by ALIS sponsors and delegates.

Pacific Hospitality Group received the award for “Single Asset Transaction of the Year 2013” for the $185 million acquisition of Bacara Resort & Spa, in Santa Barbara, CA. Timothy R. Busch, founder and chief executive officer of Pacific Hospitality Group, Kory Kramer, chief investment officer of Pacific Hospitality Group, and John Moody, vice president of finance of Pacific Hospitality Group attended the ALIS awards luncheon to accept the award.

Left to Right John Karver, senior vice president of CBRE Hotels, Kory Kramer, chief investment officer of Pacific Hospitality Group, Timothy R. Busch, founder and chief executive officer of Pacific Hospitality Group and John Moody, vice president of finance of Pacific Hospitality Group.“We are honored to receive this prestigious award from ALIS,” said Busch. “We continually look to enhance our expanding collection with properties that deliver exceptional experiences, and Bacara Resort & Spa exemplifies just that. With its comfortable luxury and pristine oceanfront location, Bacara offers a one-of-a-kind luxury retreat for travelers.”

Bacara Resort & Spa opened in 2000 and quickly established itself as the premier Santa Barbara resort destination. The property includes 354 guestrooms and suites, four restaurants and lounges, a four-story spa and wellness center, three swimming pools, and 50,000 square feet of function space. Embodying the essence of the American Riviera lifestyle, Bacara is nestled on the bluff and beaches of the Gaviota coast, just 40 miles from the Santa Ynez Wine Country and 10 miles from the Santa Barbara airport.

“It is a tremendous honor to be recognized by the hotel investment community with this highly coveted award,” said Kramer. “The acquisition of Bacara represents our strong commitment to growth and the positioning of Pacific Hospitality Group and the Meritage Collection as an expanding collection of premier lifestyle resort assets. We were pleased to work with Mark Elliott of Hodges Ward Elliott in this complicated transaction.”

The purchase of Bacara Resort & Spa was the latest venture for the rapidly expanding Pacific Hospitality Group as part of its recently formed Meritage Collection (www.meritagecollection.com). The elite group also includes Estancia La Jolla Hotel & Spa in San Diego, Balboa Bay Resort in Newport Beach, and The Meritage Resort and Spa in Napa.

Comment on this Article:







Time limit is exhausted. Please reload CAPTCHA.

Platinium Partnership

ADVERTISEMENTS

Elite Partnership Sponsors

ADVERTISEMENTS

Premier Partnership Sponsors

ADVERTISEMENTS

Official Media Event Partner

ADVERTISEMENTS

Global Travel media endorses the following travel publication

ADVERTISEMENTS

GLOBAL TRAVEL MEDIA VIDEOS

ADVERTISEMENTS