Success Story
Hotel del Coronado - San Diego, CA
In August 1997, Lowe Enterprises Investment Management (LEIM) acquired the Hotel del Coronado on behalf of an institutional investor, at which time Destination Hotels & Resorts began managing the property.
Originally constructed in 1888, The Del became world-renowned as a premier beachfront resort. However, as more and more luxury hotels were proposed for the region, The Del's market share was a considerable risk. The overall San Diego market was strong, but the property needed to be updated as the competitive environment in Southern California intensified.
Destination saw that The Del was a rare asset with an unrivaled history, but now needed to compete with the top resorts in the United States. A five-year, multi-million dollar renovation and restoration project was developed to rejuvenate and enhance the property by upgrading its physical condition. Despite room and facilities closures during the renovation, The Del's average rate growth was 7.9% annually. RevPAR growth was 3.6%, and gross revenue increased 4.5% annually.
To correct a disparity between The Del and other world-class resorts in the United States, a sales and marketing effort was developed to increase the property's rate structure and profitability. The gap between The Del's ADR and its competition diminished, enabling the property to compete with world-class resorts on both a national and regional level.
The Del was sold on behalf of the institutional investor in 2004.
Accolades and Testimonials
"She always knows the sweetest spots in town, where to go for the latest and greatest, and of course, the very best hotels to stay and play at. juliB is Modern Luxury'sgo to girl for all things fabulous (we highly recommend you sign up for her weekly emails, we love them), and it's time to get to the voting booth to show her a few of your favorite things.L'Auberge Del Mar is up for Best Resort 2010 - Continental in juliB's 2010 Style Awards and we need your help to win! If we're among your favorite hotels in the US, we'd so appreciate your vote. To start voting, you do need to sign up for juliB here. Once you're in, vote away! Many thanks for your support from all of us at L'Auberge Del Mar." - More from L'Auberge Del Mar
"Wow, what a whirlwind week it's been! We are more than thrilled to annouce that L'Auberge Del Mar has been honored with three of Ranch & Coast Magazine's 2010 Reader's Choice Best of San Diego awards - two of which were awarded to KITCHEN 1540 and Chef Paul McCabe. Click away for all the details, and to see all of the winners.Best Local Hotel - L'Auberge Del MarBest Chef - Chef Paul McCabe, KITCHEN 1540 Best Restaurant Service - KITCHEN 1540" - More from L'Auberge Del Mar
