UPCOMING MARGARITAVILLE HOTEL SAN DIEGO GASLAMP QUARTER
Second hotel collaboration between Pebblebrook and Margaritaville
Today, Pebblebrook Hotel Trust (NYSE: PEB, “Pebblebrook” or “the Company”) and Margaritaville Enterprises LLC announced the global lifestyle brand’s second west coast resort, The Margaritaville Hotel San Diego Gaslamp Quarter. The property is expected to open in 2021 in downtown San Diego, California.
Located in the heart of the Gaslamp Quarter, just blocks from Petco Park and the San Diego Convention Center, the hotel will feature 235 guest rooms as well as signature Margaritaville food and beverage concepts. Travelers can immerse themselves in the excitement of the city while staying in a truly urban oasis of laidback luxury.
“We are excited to announce our second hotel in affiliation with Margaritaville in San Diego,” said Jon E. Bortz, Chairman, President and Chief Executive Officer of Pebblebrook Hotel Trust. “The downtown location in San Diego’s famed Gaslamp Quarter will provide convention goers, leisure guests and corporate travelers a unique experience in very close proximity to the city’s dining, entertainment and retail venues. We look forward to taking advantage of this ever-growing lifestyle affiliation, while also benefiting from operating synergies we believe will assist in significantly lifting the financial performance of this extremely well-located asset. The Gaslamp Quarter property will be a terrific complement to our Margaritaville Island Resort San Diego, which was announced last year.”
The site of the property is currently home to Solamar Hotel. Following extensive renovations and a full conversion of the existing hotel, estimated at approximately $20.0 million, the Margaritaville Hotel San Diego Gaslamp Quarter will feature spaces reflecting the Margaritaville state of mind.
“We are thrilled to collaborate on our second hotel with Pebblebrook, a team that values quality design, creativity and engaging guest experiences,” said John Cohlan, Chief Executive Officer of Margaritaville. “The iconic Gaslamp District, with its dynamic nightlife, signature events and proximity to the home of the Padres, fits perfectly with the Margaritaville lifestyle. We look forward to contributing to the fun and adding a new place to relax and escape downtown.”
Pebblebrook acquired the Solamar Hotel in 2018 and will assist with the transition along with the resort’s current management company, Davidson Hotels & Resorts. Davidson Hotels & Resorts will operate the property as Solamar Hotel until the hotel is reflagged and will continue to manage the property following the completion of the renovation and rebranding program.