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Investor Group Purchases Bacara Resort
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Report: Bacara May Be Back On The Market

Written by KEY News Staff

Story Created: Jan 30, 2012 at 5:04 PM PDT

Story Updated: Jan 31, 2012 at 12:39 PM PDT

Goleta - A well-known luxurious resort may be back on the market.

The Pacific Coast Business Times says that many Santa Barbara hotel operators have heard that a major international hotel chain recently approached the Ohana Real Estate Investors, the current owners of Bacara, to purchase it for a reported $180 million to $200 million. That's almost double than what Ohana paid for the resort six months ago at $104 million.

The paper says industry sources believe the talks between Ohana and the prospective buyer are preliminary and no formal offer has been made.

Bacara has not responded to the report.


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