Bacara Deal Finalized

Pacific Hospitality Group Buys Resort

Monday, February 25, 2013

Last week’s rumors that the Bacara Resort was about to be sold were confirmed on Monday when the Orange County-based Pacific Hospitality Group (PHG) announced that it had purchased the 360-room property for an undisclosed sum. The seller was the Bay Area-based Ohana Real Estate, which took over the property in July 2011 after buying it from the original developer for nearly $105 million.

Located in Irvine and founded in 1997, Pacific Hospitality Group operates seven hotels, all in Southern California except for The Meritage, a luxury resort in Napa Valley. Its CEO and founder, Tim Busch, made his original fortune on Busch Markets, the largest independent grocery chain in Michigan, and also owns a winery called Trinitas Cellars in Napa. He’s an avid supporter of Catholic causes.

Also involved in the Bacara deal are Eagle Four Partners, a PHG investor, and vintner Bill Foley, who owns many wine businesses throughout California and plans to enhance the Bacara by making it part of the Foley Food & Wine Society.

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