Justin and Tyler Mateen, along with Culver Capital, acquired the historic El Encanto Hotel in Santa Barbara, California, for $82.2 million. The hotel, which originally opened in 1918, has 90 rooms and was formerly owned by LVMH, which purchased Belmond in 2018. Justin Mateen emphasized the appeal of the American Riviera, while Tyler Mateen promised to enhance the hotel's historic charm and guest experience. Plans for changes to the property are in motion, but it will remain open during renovations.
Brothers Justin and Tyler Mateen and Culver Capital purchased the El Encanto Hotel, a 90-room property that originally opened in 1918, for $82.2 million from LVMH.
Justin Mateen stated, 'The beauty of the American Riviera rivals the best coastlines in Europe but is less than 90 minutes from Los Angeles and just a direct flight from many major US cities.'
Tyler Mateen remarked, 'El Encanto has an authentic heart and soul unlike any property I've visited in California. We will bring its rich history and timeless allure to the forefront of every aspect of the guest experience.'
LVMH acquired Belmond, the hotel company that owned El Encanto, in 2018, making the El Encanto their only hotel in the US.
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