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Business

Bacara Resort & Spa Management Won’t Comment on Possible Sale

General manager Kathleen Cochran says she can't confirm reports that Irvine-based Pacific Hospitality Group is close to buying the 35-acre property

Is a deal close for the sale of Bacara Resort & Spa in western Goleta?

Bacara general manager Kathleen Cochran wouldn’t say when asked Wednesday about persistent rumors and published reports that the 35-acre beachfront resort was on the market — and was close to being sold by Ohana Real Estate Investors, which purchased the property at 8301 Hollister Ave. in July 2011.

Cochran told Noozhawk that she was not authorized to speak about any possible sale, including reports that the prospective buyer is the Irvine-based Pacific Hospitality Group.

Noozhawk reported a year ago that the 360-room resort and conference center was on the market, but no deal came to fruition at that time.

Rumors of a possible sale were stoked again late last year, but to date no announcement has been forthcoming.

The resort includes a 42,000-square-foot spa, swimming pools, restaurants, a wine cellar, bars and lounges, and 25,500 square feet of meeting space.

Ohana purchased the resort for $104 million, and a Bacara publicist confirmed last year that several companies had shown interest in the property because of key management changes and recent renovations.

Ohana, which has offices in San Diego, Redwood City and Honolulu, owns several other resort properties in California.

Pacific Hospitality Group also owns several hotels and resorts in California.

Montecito resident Bill Foley, who owns Foley Family Wines with vineyards in Santa Barbara County and elsewhere in the state, reportedly has purchased a minority ownership stake in Bacara, in a deal that is supposed to close Feb. 25.

It’s unknown how that transaction will affect any possible sale of the property.

According to the Santa Rosa Press Democrat, Foley is using his ownership stakes in several resorts as a cross promotion with his wineries through a program called the Foley Food & Wine Society.

Noozhawk executive editor Tom Bolton can be reached at .(JavaScript must be enabled to view this email address). Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.

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