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the Marina del Rey Hotel and the Marina International Hotel & Bungalows |
| SANTA BARBARA, Calif. - May 25, 2006 -- Pacifica Hotel Company, which
owns and operates quality coastal hotels from San Diego to San Francisco,
announced that it has purchased the Marina del Rey Hotel and Marina and
the nearby Marina International Hotel & Bungalows. The prices and sellers
were not disclosed.
"We are delighted to acquire these ideally located properties, which we plan to transform into upscale hotels that offer memorable lodging experiences to both business and vacation travelers," said Pacifica Executive Vice President John Beazley. "We believe Marina del Rey is entering a new and exciting phase that
will see it become a major standalone destination for those visiting Southern
California and for those who already live there. With these purchases,
we continue to position Pacifica Hotel Company to participate in the area's
growth and our business strategy of owning and operating quality hotel
properties on or near the California coast."
The Marina del Rey Hotel and Marina, located at 13534 Bali Way, has 157 guestrooms, seven meeting rooms, a restaurant/lounge, outdoor swimming pool, a gift shop and ample parking spaces. The property, ideally situated on a narrow peninsula overlooking the harbor's colorful boating scene, will be renovated and repositioned as a boutique, urban resort delivering products and services at a quality level consistent with a four-diamond rating. All guestrooms, public spaces and the exterior will be refurbished to achieve a quiet, relaxed elegance that takes advantage of the hotel's unique waterfront setting. The existing restaurant, pool area and exercise facilities also will be upgraded. Property renovations will begin late this year or early in 2007. The Marina International Hotel & Bungalows, located at 4200 Admiralty Way -- just across the street from the Mother's Beach, has 110 traditional guestrooms, 25 bungalows, two meeting rooms, a casual restaurant and bar, outdoor swimming pool, gift shop, and ample parking. The property will be renovated and repositioned as a lifestyle hotel, delivering products and services at a quality level consistent with a three-diamond plus rating. Guestrooms, bungalows, and public spaces will be refurbished, as will the existing restaurant, pool and exercise areas. Renovations will begin late this year or early in 2006. Located 15 miles southwest of downtown Los Angeles and just five miles from Los Angeles International Airport, Marina del Rey is an attractive residential and tourist community which surrounds the world's largest man-made pleasure craft harbor. Originally developed in the 1960s, Marina del Rey has recently attracted lodging, residential and retail developers who have already pumped an estimated $1.5 billion into property upgrades, with more renovations on the horizon. Pacifica Hotel Company's independent and flag properties in key California cities from San Diego to San Francisco feature outstanding locations, AAA 3-diamond ratings, upgraded amenities and high standards of guest service. |
| Contact:
Pacifica Hotel Company
|
| Also See: | Pacifica's Formula: Hand-picked Hotels and Renovating with Unique Designs / June 2004 |
| Michael Barnard Appointed President and Chief Operating Officer, Pacifica Hotel Company / October 2005 |
