The seller was Khana Enterprises V, LP.
The 11-story, 110-room hotel at 7955 La Jolla Shores Drive is a Curio Collection Hilton and the franchise agreement was renewed for 20 years.
The new owners said that they plan to make $5 million to $6 million in improvements to the hotel, updating guest rooms, the lobby, pool areas, and top floor restaurant and meeting space.
“This hotel is at the epicenter of the quintessential La Jolla experience,” said Daniel Ades, founder and managing partner of Kawa Capital Management.
“We also are delighted to have created a strong partnership committed to developing and managing high-end spaces to help us deliver on our vision for the future of this coveted hotel,” Ades said.
Joao Woiler, principal of CL Hotels, said The Hotel La Jolla was “a world-class destination that has been very resilient during the pandemic on the leisure segment and shall see a huge resurgence of corporate visitors as more people feel confident in traveling post-pandemic.”