KHP Capital Partners buys The Goodland in Santa Barbara

US: Makar Properties has sold The Goodland Hotel in Goleta, California to KHP Capital Partners.

US: Makar Properties has sold The Goodland Hotel in Goleta, California to KHP Capital Partners.

Paul Makarechian, CEO of Makar Properties announced the sale of the 158-room vintage California-inspired surf lodge, which was curated and developed by Makar. Makar acquired the former Holiday Inn hotel in June 2013 and opened as The Goodland in October 2014. The property is managed by Kimpton Hotels & Resorts.

“After living in Santa Barbara during college at UCSB, I knew there was a need for an experiential hotel that reflected the unique, incredibly fun culture and beach vibe of the Central Coast,” said Makarechian. “We are passionate, hands on investors, and are proud to have cultivated The Goodland from concept to development, opening to sale. We look forward to watching the unique brand we created expand under KHP stewardship.”

Joe Long, managing partner of KHP Capital Partners, said: “We are excited to have the opportunity to acquire this property and continue the vision of Makar and Kimpton as the property stabilises and establishes itself in the local market. We are big fans of the Santa Barbara/Goleta area, its high barriers to entry and strong demand characteristics.”

www.thegoodland.com

Be in the know.

Subscribe to our newsletter »