Hotel News
BITAC® Events!
Purchasing & Design East Jul. 15, 2018 More Info 4 Supplier Spots Left
Building Your Hospitality Business
  Are you a member? Log In  or  Sign Up
Senior Living News
Send a summary and link to this article
To Email
Your Name
Your Email
Bot Test
To pass the Bot Test, please type the white text that you see in the gray box. This helps us prevent spammers from abusing the system.
Print Printable Version

Pacifica Companies Completes Acquisition Of La Jolla’s La Valencia Hotel

Tuesday, September 27, 2011
bookmark this
Bookmark to: Digg Bookmark to: Del.icio.us Bookmark to: Facebook
Bookmark to: Yahoo Bookmark to: Google Bookmark to: Twitter
We are on Twitter
Pacifica Host Hotels
Pacifica Host Hotels

Pacifica Companies, the San Diego-based real estate developer, owner, investor and investment management company, announced today that it completed its acquisition of the landmark La Valencia Hotel in La Jolla, Calif., through its hotel ownership division, Prospect Hospitality LP. Pacifica has managed the hotel since September 2010, when it assumed operation as well as the option to purchase the property.

The acquisition ensures continued local ownership of La Valencia, a treasured icon fondly known as “The Pink Lady,” and begins a new chapter in the hotel’s storied history. Pacifica announced plans for a $10 million dollar renovation of the property. The extensive enhancement project to revitalize the hotel’s guest rooms, food and beverage outlets, meeting space and spa will commence later this year. It continues the significant structural and exterior repairs that Pacifica initiated in 2010.

“We are delighted to become the stewards of La Valencia Hotel, a true landmark in Southern California,” said Ash Israni, Chairman of Pacifica Companies. “As a local company, we know what an important place ‘La V’ has in the community. We’re committed to the future of La Valencia and to ensuring it remains the premier destination in La Jolla.”

Ideally situated atop La Jolla Cove, La Valencia features 112 guest rooms, suites and villas offering panoramic views of the Pacific Ocean. The hotel is located in the heart of downtown La Jolla, within walking distance of elegant art galleries, boutiques and an array of restaurants and cafés. Built in 1926, La Valencia has been an integral part of the history of La Jolla and has served as a “hideaway” for many generations of Hollywood’s elite. The hotel is a member of Preferred Hotels and Resorts Worldwide and National Trust Historic Hotels of America.

About Pacifica Companies
Founded in 1978, Pacifica Companies is a privately held, vertically integrated real estate developer, owner, investor and investment manager. The company has grown exponentially over three decades due to an unwavering commitment to opportunistic investing, maintaining high levels of liquidity, and having a knack for finding the right real estate at the right price. Pacifica owns and operates 40 hotels. Pacifica employs approximately 3,000 people and controls about 400 entities.

Pacifica's vast real estate portfolio includes hotels, mixed use projects, development projects, master planned communities, office, industrial buildings, retail shopping centers, senior housing assets, single tenant leases, multifamily for rent and sale projects and single-family communities throughout the United States, Mexico and India. For more information about Pacifica Companies, please visit www.pacificacompanies.com.

Feedback Messaging & Feedback
We welcome your opinion! Log In to send feedback.
Already a member?
Log In
Not yet registered?
Sign Up
Need More Information?
  RSS Feed
RSS Feed
Contact Us
Mobile Version