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Bacara Deal Finalized

Pacific Hospitality Group Buys Resort


Monday, February 25, 2013
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Last week’s rumors that the Bacara Resort was about to be sold were confirmed on Monday when the Orange County-based Pacific Hospitality Group (PHG) announced that it had purchased the 360-room property for an undisclosed sum. The seller was the Bay Area-based Ohana Real Estate, which took over the property in July 2011 after buying it from the original developer for nearly $105 million.

Located in Irvine and founded in 1997, Pacific Hospitality Group operates seven hotels, all in Southern California except for The Meritage, a luxury resort in Napa Valley. Its CEO and founder, Tim Busch, made his original fortune on Busch Markets, the largest independent grocery chain in Michigan, and also owns a winery called Trinitas Cellars in Napa. He’s an avid supporter of Catholic causes.

Also involved in the Bacara deal are Eagle Four Partners, a PHG investor, and vintner Bill Foley, who owns many wine businesses throughout California and plans to enhance the Bacara by making it part of the Foley Food & Wine Society.

Comments

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Boy this is turning into quite the hot potato! Good luck, hope they are decent to the locals.

bimboteskie (anonymous profile)
February 25, 2013 at 3:19 p.m. (Suggest removal)

I wonder which Catholic causes he supports? Oh vey here we go-A gain.

Ken_Volok (anonymous profile)
February 25, 2013 at 4:19 p.m. (Suggest removal)

Rich guys doing Rich Guy Stuff. And so it goes.

LegendaryYeti (anonymous profile)
February 25, 2013 at 6:36 p.m. (Suggest removal)

Turn it into a village.

Ken_Volok (anonymous profile)
February 25, 2013 at 6:46 p.m. (Suggest removal)

"Bill Foley, who owns many wine businesses throughout California and plans to enhance the Bacara by making it part of the Foley Food & Wine Society."

More toney rich people drinking wine. Viva la gentrification of Goleta area.

Yeti hits the nail on the head: More rich people expanding their sybaritic playground.

billclausen (anonymous profile)
February 26, 2013 at 3:03 a.m. (Suggest removal)

What religious causes the new Bacara owner supports has no place in this article.

Archie (anonymous profile)
February 26, 2013 at 9:06 a.m. (Suggest removal)

Oh c'mon Archie. Shouldn't we have support for gay marriage as a litmus test prior to being allowed to do any kind of business in Santa Barbara?

Botany (anonymous profile)
February 26, 2013 at 11:22 a.m. (Suggest removal)

Run bigots outta town in an ideal world. Well we'll never be an ideal world but it seems to me if people like CF-A's Carol Ruiz didn't want to be thought of as bigots they'd say something.
I don't know anything about this new owner other than what's in the article, but let's hope the causes he supports truly uplift and not oppress humanity, unlike some others who are using Christ as a marketing tool and a weapon of hate.

Ken_Volok (anonymous profile)
February 26, 2013 at 12:45 p.m. (Suggest removal)

"Rich guys doing Rich Guy Stuff. And so it goes."

Amen!

Holly (anonymous profile)
February 28, 2013 at 11:43 p.m. (Suggest removal)

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