Overview

• The $82.2 million sale, finalized on July 8, transfers ownership from LVMH’s Belmond to Tinder co-founders Justin and Tyler Mateen alongside Culver Capital.
• Up to $40 million will fund upgrades to the 90-room property over the next three low seasons, allowing continuous operation during renovations.
• The new owners aim to preserve El Encanto’s Old Hollywood heritage while repositioning it as an independent boutique hotel.
• Plans include converting selected rooms into retail outlets such as a coffee shop and creating a membership club atop the main building.
• The transaction highlights broader market trends as deep-pocketed private investors step in amid a cooling California luxury hotel sales environment.