L’Auberge Del Mar Resort Spa, a beautiful beachfront luxury hotel located in the Del Mar area of San Diego has recently been put on the market, according to an article published by the Union Tribune. The property recently underwent extensive renovation, which shut the hotel down for several months, reopening finally in 2008. The makeover cost millions of dollars, including the addition of a brand new lobby, spa, restaurant, and renovated landscaping as well as outdoor lounge space. News of the sale spread after the property was listed in a flyer for brokerage firm Eastdil Secured.
Senior vice president of Eastdil, Andrew Holt would not confirm the sale, according to a News 7
article by Sarah Grieco, nor would real estate group owners Lowe Enterprises. However, if the property is indeed for sale, it most likely won’t be on the market for long. Southern California is a hot destination, and given L’Auberge Del Mar’s coastal locale, the 121 room property is quite the real estate catch. In The Union Tribune article, hotel broker Bob Kaplan was quoted saying, “Coastal Southern California is in high demand by the buyers, and it’s where the money is today. Properties like this don’t come along that often.”
L’Auberge Del Mar hotel has been open for over twenty years, and last sold for around $12 million dollars in the early 90’s. However, with today’s current market, it would be surprising if it did not sell for three times that price. La Jolla hotel, La Valencia, which was purchased by Pacifica Companies, sold for $41 million.