Sold: 10th Largest Hotel in Los Angeles County
LOS ANGELES, CA--(Marketwired - Sep 11, 2013) - The Rubicon Companies announced today that its affiliate acquired the Hacienda Hotel in El Segundo in the Los Angeles basin for an undisclosed amount from a private family that had owned it for approximately 40 years. With 640 guest rooms, the Hacienda is the 10th largest hotel in Los Angeles County.
"The Hacienda represents the kind of special situation that Rubicon focuses on, where we can bring both capital and our skill sets to create value for our investors," said Marc Gordon, founder and Principal of the Rubicon Companies. "Previously, the management team operated only this hotel, so initially we will focus on updating management standards and systems to improve our overall guest experience. In the future, we will renovate and reposition the hotel to create an even better experience for our guests while delivering attractive returns for our investors."
The hotel features over 25,000 square feet of flexible meeting and banquet space; the highly regarded Carrasco's Restaurant serving breakfast, lunch and dinner; the Double H Sports Bar and the Double H Dance Club; and a heated pool and spa services. The hotel is conveniently located on Sepulveda Boulevard near major corporate headquarters in El Segundo, the beach communities of Manhattan Beach and South Bay, and the Los Angeles International Airport (LAX) with complimentary 24 hour shuttle service.
About the Rubicon Companies:
The Rubicon Companies are affiliated hospitality and real estate investment and asset management companies focused on achieving superior returns through the hands-on application of their industry expertise. Rubicon's team has extensive experience in acquisition, finance, development, operations, and marketing throughout the United States and Europe. Rubicon was founded in 2011 by Marc Gordon, formerly the President and a member of the Board of Directors of Morgans Hotel Group. Rubicon was recognized by The Wall Street Journal as having acquired the "Deal of the Week" when it purchased the Marriott hotel at LaGuardia airport in Queens, New York, in January 2013. Rubicon may be reached at firstname.lastname@example.org
Phone: (646) 723-4338