Colliers is pleased to announce the sale of the Franciscan Inn & Suites, a 53-room boutique hotel located in the heart of Santa Barbara’s highly sought-after West Beach district. Local developer Ed St. George, sold the inn to Warren Resort Hotels, a family-owned hotel ownership and management company, for $22,500,000.
St. George purchased the Franciscan in 2022 for $21,000,000. The current sale price represents $424,528/key, and just under a 4% CAP on current income.
The transaction underscores renewed investor confidence in premium coastal hospitality assets and highlights continued demand for well-located, experiential lodging properties along California’s Central Coast.
“Bringing The Franciscan Inn & Suites Santa Barbara into our portfolio has been a decades-long dream for our family,” said Chris Warren, third-generation family member of Warren Resort Hotels. “Closing on this hotel 50 years after my grandfather, George H. Warren, purchased our neighboring property, the Marina Beach Motel, makes this even more special. We are excited to begin a thorough remodel that embraces the hotel’s Spanish architecture, while focusing on the guest-first hospitality that we are known for across the street.”
Colliers Executive Vice President Austin Herlihy, Vice Presidents Chris Parker, Miles Waters, Mike Lopus, and Associate Mike Chung, in partnership with Radius Principal & Founder, Steve Golis, exclusively marketed the asset and led the disposition and acquisition processes on behalf of both parties.
“Santa Barbara’s hospitality sector continues to benefit from high barriers to entry, coastal zoning protections, and strong branding as an upscale resort destination,” said Herlihy.
“This sale is a strong indicator of continued appetite for high-quality hospitality assets in supply-constrained coastal markets as investors remain drawn to assets offering walkable access to retail, dining, beaches, and cultural amenities; criteria the Franciscan Inn & Suites exemplifies,” added Parker.
Originally developed in the mid-20th century during Santa Barbara’s postwar tourism expansion, the property reflects the city’s enduring appeal as a leisure destination known for its Mediterranean architecture, temperate climate, and strong year-round visitation. Just over a block from the sand and surrounded by lush palm trees, the location is walkable to both West and East beaches, Santa Barbara Harbor, Stearns Wharf, State Street, and Funk Zone, a bustling unique arts, dining, and industrial district.
This California mission-style property has been well-kept by a multigenerational family, and features 53 well-appointed guest rooms and suites, enhanced by on-site amenities including a pool, landscaped courtyard, and dedicated parking – an increasingly rare offering in the coastal submarket.
To learn more, visit colliers.com
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