LVMH Transfers Ownership of Its American Hotel to Tinder's Co-Founder
The El Encanto resort, nestled in an exclusive enclave in Santa Barbara, California, has recently undergone a change of ownership. Tinder co-founder Justin Mateen, his brother Tyler, and Garrett Cayton of Culver Capital have purchased the iconic property from LVMH for $82.2 million.
Following the acquisition, the new owners have announced a comprehensive renovation and upgrade plan for the 90-room, seven-acre resort. A $40 million investment over the next three years will be made to modernise the property while it remains operational throughout the process.
The renovations will cover every aspect of the resort, including updates to the bungalows, spa offerings, culinary concepts, and garden landscaping. The aim is to blend the resort's historic old-world elegance with modern hospitality standards.
The owners have expressed a commitment to preserving El Encanto’s legacy as an iconic destination, noting its past as a favourite hideout during Old Hollywood’s golden era. Their goal is to maintain and elevate the resort as a top destination for both international and domestic visitors.
Plans may include converting some guest rooms into retail spaces like a coffee shop, and potentially creating a membership club in part of the building currently used as a conference room. The resort will operate as a boutique property independent of any hotel chain, allowing the owners to control the guest experience directly, including menus and staff management.
This strategic move by the Mateens and Culver Capital reflects their broader vision to invest in prime Southern California hospitality assets where new development is difficult, aiming to enhance quality and exclusivity in the region’s luxury offerings.
The El Encanto resort boasts sweeping views of the Pacific and is set to undergo a significant, carefully managed refurbishment that honours its historic charm while modernising facilities and services to ensure it remains a premier luxury resort on California’s Central Coast for the foreseeable future.
Meanwhile, Belmond, the former owner of El Encanto, has unveiled a new sleeper train that connects London to Wales, offering a style of luxury travel. Details about the cost of the new sleeper train were not mentioned in the article.
LVMH, the previous owner of El Encanto, will not be entirely absent from the U.S. hotel scene. They will open a Bulgari property in Miami Beach in 2028, according to reports. The specifics of the Bulgari property in Miami Beach were not detailed in the article.
The new owners, Justin Mateen, Tyler Mateen, Garrett Cayton, and Culver Capital, aim to revamp the resort's lifestyle, integrating fashion-and-beauty elements, such as potential retail spaces, into the modernized property. Post-renovation, travelers can explore home-and-garden changes, including garden landscaping, as they enjoy the iconic El Encanto resort in Santa Barbara, California.
