Business Services Industry
Santa Barbara, Calif.-Based Pacifica Hotel Co. Purchases Carmel River Inn.
Knight Ridder/Tribune Business News, November, 2003
By Mark van de Kamp, Santa Barbara News-Press, Calif. Knight Ridder/Tribune Business News
Nov. 11--SANTA BARBARA, Calif.--The historic Carmel River Inn has been purchased by Santa Barbara-based Pacifica Hotel Co.
Renovations planned for the inn, which was built in the 1930s, include $1 million in short-term improvements to the grounds and buildings. In the long term, more rooms and more facilities may be added.
Pacifica Hotel Co. has 19 hotel properties in California and has generated $47.4 million in revenues in the first nine months of this year.
To see more of the Santa Barbara News-Press, or to subscribe to the newspaper, go to http://www.newspress.com
(c) 2003, Santa Barbara News-Press, Calif. Distributed by Knight Ridder/Tribune Business News.
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