The Hotel Santa Barbara was sold for $41.9 million to the Geronimo Hospitality Group, a Wisconsin-based firm that operates multiple award-winning boutique hotels, cafés, clubs, fitness facilities, and co-working spaces in Wisconsin and Indiana.
Rolland Jacks has owned the Hotel Santa Barbara, which is located on State Street in the center of downtown Santa Barbara, since 1975. The 75-room hotel is located on State Street’s freshly built promenade, only steps away from shops, cafés, and restaurants, and within walking distance of the Funk Zone, the beach, and Stearns Wharf.
The hotel will be renovated in 2022 by Geronimo Hospitality Group and its sibling firm, commercial real estate developer Hendricks Commercial Properties.
“We are excited to welcome Hotel Santa Barbara to the Geronimo Hospitality Group family of brands and can’t wait for locals and travelers alike to experience our unique spin on hospitality,” said Jeff Whiteman, Chief Operating Officer at Geronimo Hospitality Group. “Santa Barbara is a very special place, and we look forward to providing guests with memorable experiences for years to come.”
J.J. Gobbell of Berkshire Hathaway, one of the listed agents representing Jacks in this sale, said Jacks acquired the hotel during a key era for downtown, and the property’s revitalization proved profitable in bringing more business downtown. “Downtown was in bad shape when he acquired it,” Gobbell remarked.
“He was instrumental in not only turning the property around but also bringing more business owners together.” As to why Jacks had decided to sell the property, Gobbell said it was simply time to let the property go. “He’s owned it for a long time; it’s just a life decision.”
Geronimo Hospitality Group is based in Wisconsin, and several of its properties are in the state, including the Bottleworks Hotel and Ironworks Hotel Indy in Indianapolis, the Delafield Hotel in Delafield, Wisconsin, and the Ironworks Hotel and Hotel Goodwin in Beloit, Wisconsin.