Geolo Capital Sells 160-Acre Ventana Big Sur Resort in California for $148M
Posted on in Acquisitions, California, Hospitality, Top Stories
BIG SUR, CALIF. — Geolo Capital and its joint venture partner Wanxiang America Real Estate have sold Ventana Big Sur Resort, an Alila Resort in Big Sur. The buyer, an affiliate of the Hyatt Hotels Corp., bought the 160-acre property for $148 million. Geolo, which is the private equity investment arm of the John Pritzker family office, claims the $2.5 million-per-room price is a record for a North American resort.
Built in 1975, Ventana Big Sur Resort is a 59-room property. Geolo Capital acquired Ventana in 2015 and then renovated and reopened the property in 2017. San Francisco-based interior design firm BraytonHughes Design Studio and Carmel, Calif.-based architectural firm Ray Parks & Associates led the renovation project.
The renovations included a new Glass House Gallery, which showcases artwork, jewelry, pottery and photography from California-based artists, as well as upgrades to all the guestrooms, suites and villas. Additionally, outdoor fireside seating was added, and a new 7,000-square-foot Ocean Meadow Lawn was added for events and weddings with space for up to 200 guests.
Ventana Big Sur has a total of 12,000 square feet of events and meeting space. A new restaurant, the Sur House restaurant, was also built during renovations, as well as the Meadow Pool, which both have views of the Pacific Ocean.
Resort amenities include two pools, a fitness center and a spa area. As part of the renovation project, the resort also offers a Alila Experience Program, which allows guests to choose from interactive activities such as hiking, art and beekeeping. The property also features a ‘Social House,’ which has a library and music room, a game room and a bar room.
The resort is located on Highway 1, and is about 28 miles south of Carmel and 140 miles south of San Francisco. The property is also 35 miles north of the Monterey Peninsula Airport.
Designer and artist Kipp Stewart of Big Sur came up with the design elements for the resort buildings. The resort is part of the Alila luxury boutique hotel brand, which is a company that Geolo Capital bought in 2014, attached to Ventana in 2017 and then sold to Hyatt in 2018.
The Ventana Big Sur Resort is the second resort transaction involving the Hyatt Hotels Corp. this week. An affiliate of Hyatt Hotels Corp. sold the Hyatt Regency Lost Pines Resort & Spa in Texas to Ohana Real Estate Investors for an undisclosed price.
— Julia Sanders
Read the online article here.
