The Miramar Beach Resort & Bungalows development planned for Montecito has a new name and hotel operator.
Prominent Los Angeles developer Rick Caruso of Caruso Affiliated announced this week that his privately held real estate firm has tapped Rosewood Hotels & Resorts to manage the yet-to-be built property on 16 acres overlooking the Pacific Ocean and Miramar Beach in Montecito.
The development — now dubbed Rosewood Miramar Beach Montecito — is set to break ground next year and open in 2018 as Rosewood’s third luxury property in California.
Rosewood Hotels, which is also based in Los Angeles, will manage the 170-room resort boasting 122 guestrooms and 48 suites — many of which will be located in single-story cottages and bungalows a mere step away from the sand.
An oceanside bar and restaurant, two swimming pools, a spa, a ballroom, a fitness center, a signature restaurant and a beach club will be among amenities of the resort that’s been years in the making.
Caruso Affiliated waited eight years for the right combination of financing and approval after buying the beachfront property in 2007, twice receiving approval for past iterations as recently as 2011.
The company raised more than $200 million in financing for the project and in 2012 demolished the original Miramar Beach Hotel, a decaying eyesore along Highway 101.
Caruso received final approval to move forward with his latest design in April, and that’s the layout Rosewood is tasked with operating.
The Santa Barbara County Board of Supervisors granted Caruso’s appeal of Montecito Planning Commission approval that limited beach club membership, event attendees and excursion bus parking. A flurry of neighbors supported the Miramar project, while others worried about a lack of parking, water supply and traffic safety.
“We are delighted that our project is finally coming to fruition, and Rosewood Hotels & Resorts is the perfect operator and one that shares our vision on delivering a world-class experience,” Caruso said in a statement Wednesday. “The historic location of the Rosewood Miramar Beach Montecito provides the perfect landscape to create a property that not only honors this landmark site, but also draws inspiration from the existing natural beauty of the region and continues to enhance the Montecito community.”
Rosewood Hotels manages 18 other luxury properties in 11 different countries, each operated to reflect a location’s history, culture and sensibilities.
In this week’s announcement, the company said it has 11 new hotels under development, with plans to operate 50 hotels by 2020.
Its collection of hotels includes The Carlyle in New York City, the Rosewood Sand Hill in Menlo Park, Calif., and Hôtel de Crillon in Paris.
“Rosewood Miramar Beach Montecito will be a perfect illustration of Rosewood’s philosophy of ‘A Sense of Place,’” Rosewood Hotel Group CEO Sonia Cheng said. “The resort will combine a relaxed California atmosphere with intuitive service and a picturesque, beachfront setting. We look forward to working closely with Caruso Affiliated, a best-in-class developer, to bring this long-awaited resort to life.”
The price for a room wasn’t yet available for the hotel Caruso has said he hopes to open in April 2018.
— Noozhawk staff writer Gina Potthoff can be reached at gpotthoff@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.