Discover the ownership of one of the most iconic hotels in the world.
If you’re wondering who owns Hotel Del Coronado, we’ve got you covered.
In this article, we’ll explore the history of Hotel Del Coronado and its current ownership, as well as the hotel’s significance and impact on the hospitality industry.
The History of Hotel Del Coronado
Hotel Del Coronado, also known as “The Del,” is a world-renowned resort located in San Diego, California. The hotel is known for its stunning Victorian architecture, beautiful beachfront location, and rich history. The hotel has been featured in numerous films and television shows, including Some Like it Hot (1959) and The Stunt Man (1980).
The hotel was built in 1888 by Elisha Babcock and H.L. Story, two wealthy developers who envisioned a grand seaside resort that would attract wealthy visitors from all over the world. The hotel was designed by architect James W. Reid, who was inspired by the luxurious resorts of Europe. The hotel quickly became a popular destination for the rich and famous, including presidents, royalty, and Hollywood stars.
The Golden Age
The hotel’s golden age was in the early 1900s, when it was a hub of social activity and entertainment. The hotel hosted lavish parties, dances, and concerts, and was known for its high-end shopping and dining experiences. The hotel also played a key role in World War II, serving as a training center for Navy officers.
The hotel has undergone many renovations and changes over the years, but it still retains much of its original charm and elegance. Today, the hotel is owned by Blackstone Group, a global investment firm, and is part of the Hilton Hotels & Resorts chain. The hotel offers a wide range of amenities and activities for guests, including a spa, multiple pools, and numerous dining options. It also continues to be a popular destination for weddings and other special events.
Current Ownership of Hotel Del Coronado
Overview of Current Ownership
Hotel del Coronado is currently owned by Blackstone Group, a multinational investment firm. Blackstone Group acquired the hotel in 2018 from Strategic Hotels & Resorts, which had previously purchased the property in 2016.
Blackstone Group is a well-known investment firm that specializes in real estate, private equity, and credit. The company has a portfolio of high-end hotels and resorts, including the Waldorf Astoria and Hilton brands.
Recent Changes in Ownership
The history of Hotel del Coronado’s ownership is a long and complex one. The hotel was first built in 1888 by Elisha Babcock and H.L. Story, who owned the property until 1891, when they sold it to John D. Spreckels.
Over the years, the hotel changed hands several times, with ownership passing from Spreckels to the Coronado Beach Company, then to the Spreckels family trust, and later to M. Larry Lawrence, a San Diego businessman.
In 2015, the hotel was purchased by Anbang Insurance Group, a Chinese company. Anbang made several significant investments in the property, including a $200 million renovation project. However, in 2018, Anbang was taken over by the Chinese government, and the company was forced to sell off its overseas assets, including Hotel del Coronado.
Blackstone Group purchased the hotel for $1 billion in 2018, and the property remains under their ownership to this day.
Significance of Hotel Del Coronado
The Hotel Del Coronado, also known as The Del, is a historic beachfront hotel located in the city of Coronado, California. This iconic hotel has been a major tourist attraction for more than a century, attracting visitors from all over the world.
Cultural Significance: The Hotel Del Coronado is not just a hotel; it is also an important cultural landmark in the United States. The hotel was built in 1888 and is one of the few surviving examples of an American architectural genre known as the wooden Victorian beach resort. The hotel has appeared in numerous movies, including Some Like It Hot, and has hosted many famous guests, such as Marilyn Monroe and Charles Lindbergh.
It is worth mentioning that the hotel has also been designated a National Historic Landmark, which is the highest designation that a building can receive in the United States.
Impact on the Hospitality Industry: The Hotel Del Coronado has had a significant impact on the hospitality industry in the United States. The hotel is known for its luxury accommodations, excellent service, and beautiful location. It has been a source of inspiration for many other hotels, and its success has led to the development of many other beachfront resorts across the country.
On the other hand, it is important to keep in mind that the hotel has also faced its fair share of challenges over the years. For example, the hotel was forced to close during the Great Depression, and it was also used as a training facility for the Navy during World War II. However, despite these challenges, the hotel has managed to maintain its status as one of the most iconic and beloved hotels in the United States.
Hotel Del Coronado is not just a hotel, it’s a historical landmark that has played a significant role in shaping the hospitality industry. While the hotel has changed hands over the years, its legacy and impact on the industry remain unparalleled. We hope this article has provided you with a comprehensive guide to the ownership of Hotel Del Coronado and its significance.