Development

Ty Warner Closes Purchase of Miramar by the Sea

Ty Warner Hotels & Resorts, LLC announced the final purchase of the vacant Miramar by the Sea – located in the exclusive coastal community of Montecito, just south of Santa Barbara, California.

Ty Warner Hotels Miramar by the Sea is located right on the sand in Montecito, just steps from the Pacific, with the lush foothills of the Santa Ynez Mountains as a backdrop. With plans approved in 2000 to renovate the century-old beachfront resort’s 213 rooms, create a new restaurant, spa and boardwalk, Miramar by the Sea is destined to be one of California’s most coveted resorts.

Miramar by the Sea joins Ty Warner’s distinctive collection of individually unique and upscale destinations, including the San Ysidro Ranch and Four Seasons Biltmore also located in Montecito, the Kona Village Resort on the Big Island of Hawaii, and Las Ventanas al Paraiso Resort in Los Cabos, Mexico.

The all-embracing renovation plans for the Miramar, approved by Santa Barbara County in 2000, were never completed by the previous owner due to financial complications resulting from the aftermath of 9/11. The renovation plans for the time honored hotel were halted following demolition in 2001.

According to Greg Rice, Executive Vice President of Development for Ty Warner Hotels & Resorts, the purchase was recorded Friday. “We are excited about the opportunity to complete the Miramar renovation to bring new life and beauty back to this treasure. The Miramar will become one of America’s premier resorts with its oceanfront location in Montecito.”

The purchase price for the Miramar was not disclosed.



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