Hotel Santa Barbara Sold to Wisconsin-Based Hospitality Group for $41.9 Million

The Hotel Santa Barbara has been sold to the Geronimo Hospitality Group — a Wisconsin-based company that owns several award-winning boutique hotels, eateries, clubs, fitness centers, and co-working spaces throughout Wisconsin and Indiana — for $41.9 million.

The Hotel Santa Barbara, located on State Street in the heart of downtown Santa Barbara, has been owned by Rolland Jacks since he purchased the building in 1975. The 75-room hotel sits in the newly created promenade on State Street, just steps from shopping, cafés, and restaurants, and within walking distance of the Funk Zone, the beach, and Stearns Wharf.  

Geronimo Hospitality Group and its sister company, commercial real estate developer Hendricks Commercial Properties, plan to begin renovations on the property in 2022. “We are excited to welcome Hotel Santa Barbara to the Geronimo Hospitality Group family of brands and can’t wait for locals and travelers alike to experience our unique spin on hospitality,” said Jeff Whiteman, Chief Operating Officer at Geronimo Hospitality Group. “Santa Barbara is a very special place, and we look forward to providing guests with memorable experiences for years to come.” 

One of the listing agents representing Jacks in this sale, J.J. Gobbell of Berkshire Hathaway, said Jacks purchased the hotel during a critical period for downtown, and the revitalization of the hotel was lucrative in bringing more business downtown. “When he bought it, downtown was in rough shape,” Gobbell said. “He was instrumental in not only turning the property around but also bringing more business owners together.” As to why Jacks had decided to sell the property, Gobbell said it was simply time to let the property go. “He’s owned it for a long time; it’s just a life decision.”

Geronimo Hospitality Group is headquartered out of Wisconsin, and many of its hotels are located in Wisconsin and Indiana, including Bottleworks Hotel and Ironworks Hotel Indy in Indianapolis; Delafield Hotel in Delafield, Wisconsin; and Ironworks Hotel and Hotel Goodwin in Beloit, Wisconsin.

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