La Jolla's La Valencia Hotel reportedly in escrow

The courtyard at La Jolla's La Valencia Hotel overlooks the Cove. Photo: Kent Horner

By Dave Schwab
Staff Writer

La Jolla’s landmark 113-room La Valencia Hotel is reportedly in escrow at a purchase price of about $40 million to a Kirkland, Wash.-based a hotel chain with San Diego ties.

The San Diego Daily Transcript reported the prospective buyer is Noble House Hotels & Resorts, owners of the Hilton San Diego Resort & Spa and the iconic Edgewater Hotel on Seattle’s waterfront.

La Valencia’s general manager David Friederich, would not talk about the report, saying only that “it is factual that our owners are interested in selling.”

He added that multiple groups have expressed interest and that there is a lead candidate but would not comment beyond that, adding it was premature to do so.

La Valencia is owned by the Harry Collins family’s Collins Cos. A spokesman for the company also refused to comment on the reported deal.

Constructed in 1926 atop La Jolla Cove, La Valencia – called the “Pink Lady” – is known for its ocean views, standout service and fine dining at The Sky Room, Whaling Bar and Grill and The Mediterranean Room. The wine list at the hotel’s restaurants exceeds 100 labels and is consistently awarded “Best of Award of Excellence” by Wine Spectator magazine, according to the hotel website.

Earlier this year, Protea Holdings of La Jolla, a partnership controlled by the Jacobs family, purchased the La Valencia’s “sister” property – the Rancho Valencia Resort and Spa in Rancho Santa Fe – from RVR Partners LP. The Daily Transcript reported that sales price at $15.5 million.

In 2008, a proposed combined sale of the two properties for an undisclosed sum, fell through, ostensibly because of the poor bank lending environment with the advent of the recession. At that time, American Property Management Corp. (APMC) – owners of Hotel La Jolla – had agreed to purchase the two hotel properties from the Collins Cos. and a Getty trust.

The Transcript reported the family is divesting itself of its hotel properties in part because of the lingering effects of a polo accident suffered years ago by family patriarch Harry Collins.

Related posts:

  1. Blown fuse to blame for streetlight outage in La Jolla
  2. Paragliders crash at Torrey Pines, one injured
  3. La Jolla native joins Teach For America
  4. Cast your votes now for Best of La Jolla
  5. La Jolla Bronco All-Stars played in the 'Zone'

Short URL:

Posted by Halie Johnson on Aug 24, 2010. Filed under La Jolla, News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

La Jolla Community Calendar


Bottom Buttons 1

Bottom Buttons 2

Bottom Buttons 3

Bottom Buttons 4

Bottom Buttons 5

Bottom Buttons 6

RSS North Coastal News

  • Man robs Wells Fargo Bank on Del Mar Heights Road August 22, 2014
    An unidentified man robbed the Wells Fargo Bank at 3445 Del Mar Heights Road on Thursday, Aug. 21, at about 2:31 p.m. The suspect walked up to three different tellers and demanded money. No weapon was seen. The suspect was given an undisclosed amount of money. The suspect fled the bank westbound towards El Camino Real. The suspect was described as a Hispanic […]
  • Del Mar, Solana Beach cancel elections and appoint council members August 21, 2014
    Del Mar and Solana Beach voters might head to the polls in November, but it won’t be to cast a ballot for their local council members. Rather than hold fall elections, both councils opted to appoint council candidates during two special council meetings on Aug. 20. […]
  • Carmel Valley swimmer wins High Point award at 2014 Long Course Junior Olympics August 21, 2014
    Lukas Marxer of Pacific Athletic Club (Bay Club Carmel Valley), won the High Point award at the 2014 Long Course Junior Olympics at Coronado in July with a perfect score of 140 points! […]