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6/26/13
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The Holiday Inn Santa Barbara-Goleta, a 160-room, full-service hotel in Goleta, CA, recently traded hands at a price of $24 mil ($150k/room), free and clear of existing debt. The hotel was sold unencumbered of both franchise affiliation and management.
Holiday Inn Santa Barbara-Goleta is located at the intersection of Hwy 101 and Ward Memorial Hwy, in close proximity to the Santa Barbara Municipal Airport and the University of California, Santa Barbara. The fee simple hotel includes amenities such as 4.5k sf of meeting space, a resort-style swimming pool, restaurant, patio bar, lounge and business center.
Senior managing director Bill Stadler and managing directors Holden Lim and Scott Hall of HFF represented the seller, Santa Barbara Owner LLC, a wholly owned subsidiary of FelCor Lodging Trust. MP-Goleta Hotel Partners LLC was the buyer.
FelCor, a real estate investment trust, owns a diversified portfolio of primarily upper-upscale and luxury hotels that are located in major and resort markets throughout the U.S. FelCor partners with leading hotel companies to operate its 66 hotels, which are flagged under globally renowned names and premier independent hotels.
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