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San Diego
Wednesday, May 22, 2024
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Pacifica Buys Historic La Jolla Hotel for $41 million

A unit of San Diego-based Pacifica Cos. has purchased the historic La Valencia Hotel in La Jolla for $41 million.

According to CoStar Group, the deal closed Sept. 2. The seller was Collins Property Co., led by the family of Harry Collins, and the buyer was Prospect Hospitality LP, a unit of Pacifica.

The 113-room luxury property, at 1132 Prospect St., was built in 1926. Pacifica began managing the hotel about a year ago, and also took an option to buy the property at that time.

Pacifica’s hotel management division, Pacifica Host Hotels, owns or operates more than 30 hospitality properties in five states, according to its website.

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